Q2RQ - Horngren'S Financial And Managerial Accounting

Question

List some common examples of other receivables, besides accounts receivable and notes receivable.

Step-by-Step Solution

Answer

Answer

Dividends receivable, interest receivable, and taxes receivable are typical illustrations of other receivables.

Step 1: Meaning of Account receivables

Accounts receivable are the rights to receive money from consumers in the future for products or services sold.

Step 2: Listing examples

In addition to accounts receivable and notes receivable, typical examples of other receivables include:

• loans made to the company's employees

• Refundable income tax