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Question
non-trade receivables should be reported separately from trade receivables. why is this statement either true or false?
a.it is true because trade receivables are current assets and non-trade receivables are long term
b.it is false because all current receivables must be grouped together in one account
c.it is true because non-trade receivables do not result from business operations and should not be included with accounts receivable
d.it is false because management can decide how to report receivables
Answer
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