In the Past, Most Chief Executives Came from One of Three

question 92

Multiple Choice

In the past, most chief executives came from one of three backgrounds. What is one of these?

• A) accounting
• B) information technology
• C) law
• D) marketing
• E) public relations

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Definitions:

Uncollectible

denotes accounts receivable that cannot be collected and are therefore written off as a loss by a business.

Adjustment

An entry in bookkeeping that corrects or allocates income and expenditure to the appropriate accounting periods.

Income Statement Approach

Refers to a methodology in accounting that emphasizes calculating the profitability of a business by deducting total expenses from total revenues to arrive at the net income, showcasing the company's financial performance over a specific period.

Allowance for Doubtful Accounts

An estimation of the amount of accounts receivable that may not be collected, used to reduce the overall accounts receivable value on the balance sheet.