These receivables include various forms of nontrade receivables which do not generally result from the operations of the business.
It includes and means borrower receivables that are not sold on the business platform. Or, it includes and means client receivables that are not sold on the business platform.
These are nontrade receivables having distinct liquidity characteristics and risk factors.
Examples include interest receivable, wage advances, loans to company officers, loans to other companies, advances to employees, and income taxes refundable. Therefore companies generally classify and report them as separate items in the balance sheet.
Use of the Term in Sentences:
- The professor is discussing the other receivables in the class now.
- The company did not show other receivables separately in their balance sheet.
- The manager asked the accountant to show other receivables separately in the balance sheet of the company.
- The student did not have any idea about other receivables and which items are included under that heading.
- The accountant mistakenly did not include wage advances under other receivables.
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