Examlex
What is scarcity? Why is it so difficult to eliminate it?
Aging
The process of categorizing accounts receivables based on the length of time an invoice has been outstanding to determine their collectability.
Accounts Receivable
An asset account representing money owed to a business by its customers for goods or services delivered on credit.
Allowance for Doubtful Accounts
A contra-account reducing accounts receivable to reflect the estimated portion that may not be collected.
Uncollectibles
Debts owed to a company that are considered unlikely to be paid and are therefore written off as a loss.
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