Question

1. If the numbers on a balance sheet are said to be in the $ millions, and one number is listed as 5,500 would that come out to be $5,500,000? Or would it be in the billions? Thank you!

2. In addition, are "trade receivables" considered the same as "accounts receivable" when viewing a balance sheet?

Answer 1

Answers as below:

1) If the balance sheet is said to be reported in $ millions. The number reported can be convered into absolute number by multiplying the same with 1,000,000. i.e. 5,500 in $ millions would be = 5500 * 1,000,000 = $ 5,500,000,000 absolute number which is $5.5 billion

2) The term "trade receivables" and "accounts receivable" are generally same and are related to amounts that the customers would need to pay the company on account of goods sold or services rendered.