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Which is correct about receivables

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Reference no: EM132757840

Problem 1: Which of the following is(are) correct about receivables?

Group of answer choices

Option 1: A receivable is a liability because it represents a right to receive cash in the future.

Option 2: When a business factors its receivables, it uses the receivables as security for a loan.

Option 3: A receivable occurs when a business makes a cash sale of goods or services to another party.

Option 4: The direct write-off method of accounting for uncollectible receivables is primarily used by small, nonpublic companies.

Reference no: EM132757840

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