Internet Corporation for Assigned Names and Numbers (ICANN) Is a Nonprofit

question 6

True/False

Internet Corporation for Assigned Names and Numbers (ICANN) is a nonprofit organization that has assumed the responsibility for Internet Protocol (IP) address space allocation, protocol parameter assignment, domain name system management, and root server system management functions previously performed under U.S. government contract.

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Definitions:

Bad Debts

Accounts receivable that are considered uncollectible, leading to a financial loss for the company.

Specific Customers

This refers to identified individual or business customers with unique needs or characteristics that a company targets or serves.

Direct Write-off Method

An accounting method where uncollectible debts are written off as an expense only when they are confirmed to be uncollectible.

Materiality Constraint

An accounting principle that allows for ignoring minor discrepancies that would not affect the decision-making process of users of financial statements.