T/F The Net Accounts Receivable Reported In The Company

T/F: The Net Accounts Receivable Reported In The Current Asset Section Of A Company's Balance Sheet Represents All Receivables Expected To Be Collected Within The Next Year.

The correct answer is "True", as the Net Accounts Receivable (Gross Accounts Receivable - Allowance For Doubtful Accounts) reported in the Current Asset Section of a company’s balance sheet represent all receivables expected to be collected within one accounting period or accounting cycle. It is the amount due from customers who don't make payment immediately, against the goods delivered or serviced performed to them by the company, but agreed to pay later on within the specified period. If some customers fails to pay, then it is confirmed that the some part of receivables will not be collected and there is a need to write-off that part of receivables from books of accounts.