A customer's promise to pay in the future for services or goods sold is called a(n)________.
A) Accounts Receivable
B) Accounts Payable
C) Unearned Revenue
D) Notes Payable

Question

Quizplus · Accepted Answer

Accounts Receivable refers to the amount owed by customers to a company for goods or services provided on credit. Choices B, C, and D all refer to liabilities - amounts owed by the company to others.

A Customer's Promise to Pay in the Future for Services