On October 12 of the Current Year,a Company Determined That

question 103

Multiple Choice

On October 12 of the current year,a company determined that a customer's account receivable was uncollectible and that the account should be written off.Assuming the direct write-off method is used to account for bad debts,what effect will this write-off have on the company's net income and total assets?

• A)Decrease in net income; no effect on total assets.
• B)No effect on net income; no effect on total assets.
• C)Decrease in net income; decrease in total assets.
• D)Increase in net income; no effect on total assets.
• E)No effect on net income; decrease in total assets.

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Definitions:

Genetic Explanations

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Social Explanations

Theories or reasoning that account for behaviors, phenomena, or events based on social factors and contexts.

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Deviant acts committed by individuals of higher social status, which often go unpunished or are treated leniently due to their position.