In the budgeting process,the dollar amount for goods sold during the month but not collected is called:
A)accounts receivable.
B)inventory.
C)accounts payable.
D)cash.
E)None of the answer choices is correct.

Question

Quizplus · Accepted Answer

Accounts receivable is the amount that the company is owed, but hasn't received yet. In other words, it's the value of goods or services sold on credit but not yet paid for. This amount is important to include in the budgeting process because it represents future cash inflows and helps to estimate the revenue for the period. Therefore, the correct answer is A) accounts receivable.

In the Budgeting Process,the Dollar Amount for Goods Sold During