Finding Out Who Is Ultimately Responsible for a Bad Debt

question 67

True/False

Finding out who is ultimately responsible for a bad debt can be helped by D&B's D-U-N-S (Data Universal Numbers System)that tracks relationships and ownership of businesses within D&B's information base.

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Definitions:

Adjustment

An entry made in the accounts to correct an error or account for a transaction not recorded in the regular accounting period.

Available-for-sale Securities

Financial assets that are bought with the intention of selling before their maturity date, but not classified as held-for-trading or held-to-maturity investments.

Stockholders' Equity

It represents the ownership interest of shareholders in the assets of a company, after deducting liabilities.

Income Statement

A financial statement that shows a company's revenue, expenses, and profits over a specific period of time.