PDCA Is Used in ISO 22301 and the ASIS SPC

question 5

True/False

PDCA is used in ISO 22301 and the ASIS SPC.1-2009 standards but not in NFPA 1600 - 2010.

Utilize the direct write-off and allowance methods for accounting for uncollectible receivables.

Journalize transactions involving the write-off and recovery of uncollectible receivables.

Estimate bad debt expense and understand its impact on financial statements.

Calculate interest and maturity values for promissory notes.

---

Definitions:

Information Technology (IT)

The use of computers, networks, and other physical devices to create, process, manage, and exchange data and information.

Demand and Supply

The economic model explaining the price and quantity of goods and services in a market based on the willingness of consumers to purchase and the quantity available for sale.

South Vietnam

South Vietnam was a country that existed from 1954 to 1975 in the southern part of Vietnam, known for its anti-communist government and its conflict with North Vietnam during the Vietnam War.

Kennedy's Assassination

The event on November 22, 1963, when President John F. Kennedy was killed by Lee Harvey Oswald in Dallas, Texas.