The Accounting Concept or Principle Applied When an Allowance Is

question 47

Multiple Choice

The accounting concept or principle applied when an allowance is provided for estimated uncollectible accounts receivable is:

• A)consistency.
• B)matching revenue and expense.
• C)original cost.
• D)objectivity.

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Definitions:

Low-Context Culture

A culture that relies heavily on explicit and direct communication, valuing clear messages.

Canadian

Pertaining to Canada, its people, culture, or the characteristics of this North American country.

High-Context Culture

A cultural orientation where communication is largely implicit, meaning is derived from context, gestures, and expressions rather than explicit words.

Explicit Statements

Information expressed in a clear and detailed manner, leaving no room for confusion or interpretation.