Wk 4 EOC: Chapter 5 Quiz, Question 2

Define these terms:

• Source or a Use Fund: "inflows and outflows of money affecting the cash position"

• Net Receivables: "the term net means that something has been subtracted out, are those monies owed to the business after subtracting any amounts that may not be collectible  doubtful accounts."

• Notes Payable: "Notes payable are short-term loans, (less than a year)."

• Retained Earnings: "accumulated amount of profits over the life of the business that have not been distributed as dividends."