-An Object ____ Diagram Shows the Objects and How They

question 108

Multiple Choice

-An object ____ diagram shows the objects and how they interact to perform business functions and transactions.

• A)relationship
• B)precedent
• C)antecedent
• D)parent

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Definitions:

Allowance for Doubtful Accounts

An estimation of the amount of accounts receivable that may not be collectible, used to create a more accurate report of net income.

Bad Debts Expense

An expense reported on the income statement, representing the estimated amount of receivables that will not be collected.

Uncollectible Accounts

Receivables that are recognized as losses after all attempts to collect the money owed have failed, indicating debts unlikely to be recovered.

Allowance for Doubtful Accounts

A contra-asset account that reduces the total receivables amount to reflect what is expected to be collectible.