Which term refers to amounts due from individuals and companies that are expected to be collected in cash?

Which term refers to amounts due from individuals and companies that are expected to be collected in cash?

• A. Sorting mail
• B. Receivables
• C. capillary puncture process
• D. SVN mask

Answer: (B)

In accounting, amounts due from individuals and companies that you expect to collect in cash are called receivables. This term covers money you are owed for goods or services already provided, typically on credit, from patients, insurers, or other entities. Receivables are considered a current asset because they represent future cash flow the business expects to receive. In a medical office context, this includes patient balances and insurance claims that are still unpaid. Some receivables may not be collected in full, so they’re often shown net of an allowance for doubtful accounts to reflect the amount you realistically expect to receive.

In accounting, amounts due from individuals and companies that you expect to collect in cash are called receivables. This term covers money you are owed for goods or services already provided, typically on credit, from patients, insurers, or other entities. Receivables are considered a current asset because they represent future cash flow the business expects to receive. In a medical office context, this includes patient balances and insurance claims that are still unpaid. Some receivables may not be collected in full, so they’re often shown net of an allowance for doubtful accounts to reflect the amount you realistically expect to receive.