On- Site Laboratory Inspection for Accreditation of HLA Testing Laboratories

question 1

Multiple Choice

On- site laboratory inspection for accreditation of HLA testing laboratories must occur a minimum of every

• A)2 years.
• B)1 year.
• C)5 years.
• D)6 months.

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Definitions:

Carrying Amount

The recorded cost of an asset in a company's financial statements, less any accumulated depreciation or amortization.

Allowance for Doubtful Accounts

A contra-asset account used to reduce accounts receivable to its net realizable value by estimating uncollectible debts.

Bad Debts Expense

An expense recognized when it is probable that receivables will not be collected and is considered a cost of doing business on credit.

Allowance for Doubtful Accounts

A contra asset account that represents estimated uncollectible amounts from customers, reducing the gross receivables to their net realizable value.