Question

A customer balance summary report shows you the balances for all customers who owe you money.

a) True
b) False

Answer 1

The statement is true - a customer balance summary report shows the balances for all customers who owe you money.

Step-by-step explanation:

The statement that the customer balance summary report shows the balances for all customers who owe you money is true.

This report is commonly used in accounting to keep track of the outstanding balances that customers have with a company. It provides a summary of the amounts owed by each customer, allowing the company to know who owes them money and how much.

This information is important for financial analysis and decision-making, as it helps businesses monitor their accounts receivable and manage their cash flow effectively.