Asked by CHRISTOPHER SAMAYOA on May 09, 2024
Verified
An "Accounts Receivable Customer Balances" report shows
A) revenues by customer for a specified date range
B) customer balances owed as of a specific date
C) cash payments to creditors for a specific date range
D) sales by customer as of a specific date
Customer Balances
The amounts owed by customers to a business for goods or services provided on credit.
Specified Date Range
A distinct period marked by a starting date and an ending date, often used for reporting or analysis purposes.
Revenues By Customer
The segmentation and reporting of a company’s sales based on individual customers or customer groups, used for sales tracking and customer relationship management.
- Comprehend the purpose and operation of controlling accounts within the general ledger.
- Identify the function and upkeep of subsidiary ledgers.
Verified Answer
DM
Denise MujicaMay 12, 2024
Final Answer :
B
Explanation :
An "Accounts Receivable Customer Balances" report shows the total amount owed by each customer as of a specific date, indicating the customer balances owed.
Learning Objectives
- Comprehend the purpose and operation of controlling accounts within the general ledger.
- Identify the function and upkeep of subsidiary ledgers.