Abstract
The term ‘accounts receivable’ (and its shortened version ‘receivables’) is gradually replacing the older term ‘trade debtors’ in the United Kingdom. Its main advantage is its clarity; no one can doubt that a receivable will (it is hoped!) be received. Debtors and creditors are less indicative terms. Both terms have been used interchangeably throughout this book. Accounts payable is the corresponding phrase for creditors. Both accounts receivable and payable are terms which, like many in the finance area, come from the extension of US practice into the United Kingdom.
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© 1989 Jim Dewhurst and Paul Burns
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Dewhurst, J., Burns, P. (1989). Credit Control. In: Small Business. Macmillan Small Business Series. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-19657-9_20
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DOI: https://doi.org/10.1007/978-1-349-19657-9_20
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