Both accounts receivable and notes receivable represent claims that are expected to be collected in cash.

Name: Both accounts receivable and notes receivable represent claims that are expected to be collected in cash.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Both accounts receivable and notes receivable are assets that represent claims that a company has on other parties to pay back money. These claims are typically expected to be collected in cash, making both accounts receivable and notes receivable forms of cash inflows for the company.

Both Accounts Receivable and Notes Receivable Represent Claims That Are