Listed below are five terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the correct term.
-Notes receivable
A)Goods to be sold in the ordinary course of business
B)Insurance premiums paid in advance.
C)Due from customers in the ordinary course of business
D)Formal agreement that specifies customer's payment terms.
E)Liquid investments not classified as cash equivalents.

Question

Quizplus · Accepted Answer

Notes receivable are formal agreements that specify the terms of payment from customers, typically involving a written promise to pay a certain amount of money at a future date.

Listed Below Are Five Terms Followed by a List of Phrases