Question:
The Bill receivable account is a/an:
The Bill receivable account is a/an:
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Bills receivable are treated as current assets because they are expected to be realized within a year.
Updated On: Dec 18, 2024
- Personal Account
- Asset Account
- Nominal Account
- Real Account
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The Correct Option is B
Solution and Explanation
The Bill Receivable Account represents an amount owed to the business, which is an Asset. It is recorded on the asset side of the Balance Sheet under current assets.
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