Accounts receivable is an important term in accounting and finance. It is defined as the amount of money that a company is owed by its customers for goods or services that have been sold on credit. Accounts receivable is considered as an asset of the company because it represents the amount of money that the company has a right to receive from its customers.

Asset
Accounts receivable is classified as a current asset on a company's balance sheet because it is expected to be collected within one year. This means that the company expects to receive payment for the goods or services it has sold within the next 12 months. Since accounts receivable is an asset, it is included in the calculation of a company's total assets.

Revenue vs. Asset
Revenue is the income that a company earns from the sale of goods or services. It is recognized when the transaction is complete, and the customer has paid for the goods or services. On the other hand, accounts receivable is recognized when a company sells goods or services on credit, and the customer has not yet paid for them.

Conclusion
In summary, accounts receivable is an asset of the company because it represents the amount of money that the company is owed by its customers. It is classified as a current asset on the company's balance sheet because it is expected to be collected within one year. Therefore, option 'C' is the correct answer.