What is the term used if amount not received
Answers
Answer:
About 16,000 complaints, or 10 percent of all customer grievances at the banking ombudsman offices in FY18, were registered under the head ‘account debited but cash not dispensed at ATM,’ data released by the Reserve Bank of India last week showed. Data also showed that debit card and ATM related complaints saw a 50 percent jump on year.
Answer:
If the amount to be received is an income then it is called Accrued Income.
Explanation:
Accrued income is an income which has been earned but not yet received i.e an amount which is to due but not yet given. Income must be recorded in the accounting period in which it is earned. Therefore, accrued income must be recognized in the accounting period in which it arises rather than in the subsequent period in which it will be received.