The cash sales, accounts receivables and rental receipts all are known as ___________?
Correct answer: A. cash receipts
- A. cash receipts
- B. budget receipts
- C. goods manufactured
- D. total goods sold
Explanation
Cash sales, collections from accounts receivable, and rental income are all sources of cash inflows, collectively called cash receipts. Goods manufactured and goods sold are production or sales measures, not receipts.
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About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
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