Cash receipts depend on collections of accounts payable, cash sales, and miscellaneous sources, such as rental income.

Name: Cash receipts depend on collections of accounts payable, cash sales, and miscellaneous sources, such as rental income.
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Question

Quizplus · Accepted Answer

Cash receipts depend on collections of accounts receivable, not accounts payable, along with cash sales and miscellaneous sources. Accounts payable are obligations the company needs to pay, not receive.

Cash Receipts Depend on Collections of Accounts Payable, Cash Sales