Among the types of receivables reported on the statement of financial position, which of the following is considered the most significant claim held by a company?

Question

Quizplus · Accepted Answer

Accounts receivable are considered the most significant claim held by a company as they represent the amount of money owed to the company by its customers for goods or services sold on credit. This type of receivable is usually the largest and the most important component of a company's working capital. Other types of receivables, such as notes receivable and advances to employees, may be significant as well, but they are usually less common and represent a smaller portion of a company's total receivables. "Others receivables (including loans to officers)" are usually not significant in terms of the overall financial position of a company.

Among the Types of Receivables Reported on the Statement of Financial