What Was the Encomienda

question 57

Multiple Choice

What was the encomienda?

• A)A large farm or ranch used by the Spanish in California
• B)A religious institution for assimilation created by the Catholic church
• C)A Spanish economic system used to control African slaves
• D)A socioeconomic system that gave control of Indian villages to favored Spanish soldiers
• E)A Spanish movement that helped alleviate poverty after the war

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Definitions:

Aging

The process of categorizing accounts receivable based on how long an invoice has been outstanding to determine credit risk.

Direct Write-Off Method

An accounting method used to recognize bad debts at the point when specific accounts are deemed uncollectible, directly impacting the income statement.

Allowance Method

An accounting technique used to manage accounts receivable and bad debt by estimating uncollectible accounts at the end of each period.

Write Off

The accounting action of recognizing that an asset has reduced in value and reporting its loss.