Quiz 13 – Accounts Receivable – (Answers)

Note – Please take our quiz ‘Quiz 13 – Accounts Receivable – (Answers)‘ on this page before going through the below answers. Only the top 3% of our audience scored 10/10 in all of them.

  • Name – Quiz 13 – Accounts Receivable- (Answers)
  • Topic – Accounts Receivable
  • Answers with Explanation


Q1. Accounts receivable is _____.

Ans.  It is a company’s short-term collectable i.e. the total amount yet to be received from the debtors.


Q2. Accounts receivable are shown on _____.

Ans. Accounts receivable are shown on the asset side of a balance sheet.


Q3. Accounts receivable are recorded in _____.

Ans. A sales book is a special-purpose subsidiary book kept by a business for recording all credit sales.


Q4. Accounts receivable is the amount to be collected from _____.

Ans.  Basically, it is the amount which the business has to receive from its debtors.


Q5. Accounts receivable is a _____ asset.

Ans. Accounts receivable is a (short-term) current asset for the business.


Q6. Accounts receivable is the money collectable because of _____.

Ans. Accounts receivable are collectable of a business that originate because of sales made on credit e.g. sale of goods & services.


Q7.  ‘Accounts Receivable A/C’ is _____ when the sale is recorded.

Ans. When the credit sale is recorded the company’s accounts receivable increase. In such a case ‘Accounts Receivable A/C’ is debited. Rule – Debit the increase in an asset.


Q8. ‘Accounts Receivable A/C’ is _____ when money is received from the customer.

Ans. When money is received from a customer the accounts receivable are reduced, therefore ‘accounts receivable’ account is credited. Rule – credit the decrease in an asset.


Q9. Accounts receivable is also called _____.

Ans. Accounts receivable are also known as trade receivable.


Q10. Accounts receivable usually have _____ balance.

Ans. Accounts receivable being an asset have a debit balance.


Q11. Sales ledger control account (SLCA) is _____.

Ans. Also known as the “Trade Debtor Control A/C,” the Sales Ledger Control Account shows the total trade debtors of a company at a particular point in time. In simple words ‘total of Accounts Receivable’.



* indicates required