Get Characteristics of Receivables Assignment Help for Detailed Study on the Topic
Receivables are those specific credit lines that are payable by the customers after purchasing a goods or service by the law. The company lets this account to exist to thehaphazard process of paying each time after a business transaction.
But you’ll find from Characteristics of Receivables Assignment Help that it is only available for those customers that have a sure connection of trust build up with the organization.
What is it?
It is a collectible account from clients who have purchased or acquired a service. The goods or service has already been delivered and lawfully collected by the company. The fact is that not just customer but other parties also who are involved in thesale of merchandises can be part of this accounts receivables.
From Characteristics of Receivables Assignment Help at 24x7assignmenthelp.com, you’ll notice that more or less it is a claim of money which is lent to some other party involved with the company.
What are the types?
There are basically two types of receivables:
- Trade receivables:
From Characteristics of Receivables Homework Help, you’ll find this is the general version of receivables where money is claimed from customers who have purchased a service or goods. It is performed in ordinary businesses where that company is yet to obtain the due payments. Commonly this is called accounts receivables or notes receivables.
- Non-trade receivables:
As you can find by its name, these are receivables that are not connected with selling goods or services. The common examples are:
- Rent deposit
- Claims against suppliers
- Advance payments
- Dividends receivable
- Subscriptions receivable etc.
Characteristics of receivables:
You’ll notice from Characteristics of Receivables Homework Help that to understand receivables more clearly learning its characteristics is very important.
- The payments of these receivables are already decided
- A company has lawful right to collect them from the party who acquired that service or goods.
- They either have or have not any determined maturity.
- These are not performed in a securities market.
- The organization is lawfully empowered to collect all investment amounts with only one exception of credit deterioration.
- These receivables are to be paid after maturity and that organization doesn’t possess any power to collect before that certain time period
- In urgent cases, all those that have no backup as to belong in accounts receivables or notes receivables are to be enlisted in non-trade receivables.
- All receivables need to be evaluated after considering their estimated realizable values only.
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