The Act of Governing or Bringing Under the Control of Law

question 75

Multiple Choice

The act of governing or bringing under the control of law or constituted authority is called

• A) regulation.
• B) despotism.
• C) central planning.
• D) dictatorship.

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Definitions:

Uncollectible Receivables

Refers to money owed to a company that it is unable to collect from its debtors, often considered as a bad debt expense.

Allowance Method

An accounting technique used to estimate and account for bad debts, where companies anticipate some accounts receivable will be uncollectible.

Uncollectible Receivables

Amounts owed to a company that it does not expect to recover, often treated as a bad debt expense.

Allowance for Doubtful Accounts

A contra-asset account that reduces the total receivables on the balance sheet to reflect the amount expected to be uncollectable.