Beginning in 1938,the U

question 46

Multiple Choice

Beginning in 1938,the U.S Congress began to pass real advertising reform,including a law banning "deceptive acts of commerce." This meant that advertisers were now: 

• A) expected to promote family values. 
• B) banned from advertising cigarettes and alcohol. 
• C) held liable for making false claims. 
• D) banned from using inappropriate sexual content.

---

Definitions:

Gross Sales

The total sales revenue of a business before any deductions are made for returns, allowances, or discounts.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that may not be collectible.

Aging of Accounts Receivable

A report or method that categorizes a company's accounts receivable according to the length of time an invoice has been outstanding to evaluate the likelihood of collecting on those invoices.

Receivables Balance

The total amount owed to a business by its customers or clients for goods or services delivered on credit.