Examlex
Which of the following is incorrect?
Write Offs
Financial accounting action where the value of an asset is declared worthless, removing it from balance sheet accounts due to loss or impairment.
Uncollectible Accounts
Accounts receivable that a business does not expect to collect and writes off as a loss.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
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