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Veterinary Practice Manager

Category - CVPM

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An outstanding client account represents the hospitals right to payment for services rendered or goods sold. If the outstanding balance is accompanied by a promissory note, what is this called?

Balance receivable
Note receivable
Promissory note
Account receivable

Explanation

Answer: B- An outstanding client account represents the hospitals right to payment for services rendered or goods sold. If the outstanding balance is accompanied by a promissory note, it is called a note receivable.

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