Which of these is not an income type item?Group of answer choicesRoyalties receivedCommission receivedAccounts receivableFees received
Question
Which of these is not an income type item?Group of answer choicesRoyalties receivedCommission receivedAccounts receivableFees received
Solution
The item that is not an income type is "Accounts Receivable". This is because accounts receivable is an asset account, representing money owed to a business by its customers from sales on credit. It is expected to be received in the future. On the other hand, royalties received, commission received, and fees received are all types of income.
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