According to the Authors of Built to Last: Successful Habits

question 8

Multiple Choice

According to the authors of Built to Last: Successful Habits of Visionary Companies,one thing that enduring,successful companies have in common is ________.

• A)an innovative employee orientation program
• B)a set of clear,strongly held core values
• C)a set of clearly articulated rules and regulations
• D)business savvy
• E)a generous 401-K benefits plan

---

Definitions:

Receivables

Amounts owed to a company by its customers arising from the sale of goods or services on credit.

Bad Debt Expense

An estimated expense that represents accounts receivable that a company does not expect to collect due to customer defaults.

Uncollectible Accounts Expense

An expense account that represents money owed to a company that is not expected to be collected due to customer defaults.

Direct Write-off Method

An accounting method where bad debts or uncollectible accounts receivable are directly written off against income at the time they are deemed uncollectible.