Which term indicates amounts received from patients or clients?

Study for the QTS Literacy Test. Prepare with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

The term that indicates amounts received from patients or clients is "receipts." In financial terminology, receipts specifically refer to the money that a business or organization collects from customers for services rendered or goods sold. This term is crucial in accounting and financial reporting, as it helps in tracking income and understanding cash flow.

In contrast, other options like costs and expenses refer to the outflows of money or resources associated with the operation of a business. Payments might imply the act of giving money, but it does not encapsulate the concept of money received as receipts do. Therefore, receipts are precisely the amounts that flow into an organization, marking them as income from clients or patients.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy