Which of the Following Is an Adjustment Required for a Needs

question 13

Multiple Choice

Which of the following is an adjustment required for a needs analysis?

• A)A decline in overall living costs caused by the reduction in household members
• B)Future education costs for children
• C)Repayment of the mortgage to reduce overhead costs and insurance needs resulting from a decline in overall living costs
• D)All of the above
• E)None of the above

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Definitions:

Accounts Receivable Written Off

The removal of accounts receivable from financial records when they are deemed uncollectible, impacting the net income and asset value reported.

Sales Returns

Transactions where customers return previously purchased products, typically resulting in a refund or credit issued by the selling entity.

Factoring with Recourse

A financial transaction where a business sells its accounts receivable to a third party (factor) but remains responsible if the debtor does not pay.

Sales Return

Goods returned by the buyer to the seller due to issues like defects or dissatisfaction, reversing a portion of sales.