What type of business transaction involves a customer who has received goods but not yet paid for them?

• A. Trade payable
• B. Trade receivable
• C. Revenue
• D. Debt

Answer: (B)

A transaction where a customer has received goods but has not yet made payment is classified as a trade receivable. This term refers to the amounts owed to a business by its customers for goods or services that have been delivered but not yet paid for. Essentially, the business has a claim for payment that will eventually convert into cash once the customer settles their invoice.

In this scenario, the goods have been delivered, establishing a sale, but the payment process is still pending, thus creating a receivable that the business expects to collect in the future. This impacts the company's cash flow and financial reporting, as trade receivables represent one of the significant assets on the balance sheet.

The other options describe different types of financial concepts or transactions that do not align with the specifics of this situation. Trade payables, for instance, pertain to amounts a business owes to suppliers. Revenue is recognized upon the sale of goods or services on credit but does not specifically address the receivable aspect. Debt generally refers to borrowing that a business undertakes and is not directly related to the exchange of goods for customer payments.