________ represent the right to receive cash in the future from customers for goods sold or for services performed.
A) Accounts Receivable
B) Accounts Payable
C) Equity
D) Expenses

Question

Quizplus · Accepted Answer

Accounts Receivable represents the right to receive cash in the future for goods sold or services performed to customers. Therefore, this is the best choice for this definition. Accounts Payable represents the obligation to pay cash in the future for goods or services received from suppliers. Equity represents the residual interest in the assets of an entity after deducting liabilities. Expenses represent the costs incurred in the process of generating revenue.

________ Represent the Right to Receive Cash in the Future