Question：Which TWO of the following statements are correct?
A. A credit limit is a tool applied by the credit control department to make suppliers provide goods on time
B. Receivables are included in the statement of financial position net of the receivables allowance
C. Credit limits are applied to customers who purchase goods using cash only
D. An aged receivables analysis shows how long invoices for each customer have been outstanding
The correct answers are:
An aged receivables analysis shows how long invoices for each customer have been outstanding
Receivables are included in the statement of financial position net of the receivables allowance
解析：An aged receivables analysis shows the outstanding balances owed by each customer analysed by how long they have been outstanding, usually 30, 60 and 90+ days. The receivables allowance is deducted from the receivables balance in the statement of financial position.
A credit limit is set by the credit control department of the business and is the maximum amount of credit each customer of that business can have. Credit limits are not applied to cash sales.