Which One of the Following Is an Accurate Description of the Allowance

question 55

Multiple Choice

Which one of the following is an accurate description of the allowance for bad debts?

• A) Contra account
• B) Liability account
• C) Revenue account
• D) Expense account

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Definitions:

Frequency of Accidents

A measure indicating the number of accidents occurring over a specific period of time or within a particular context.

Generation X

The demographic cohort following the baby boomers and preceding the Millennials, typically born between the mid-1960s and early 1980s.

Information Technology

The use of computers and software to manage information, particularly in the business environment.

Empowerment

Passing decision-making authority and responsibility from managers to group members.