An Irrational Fear of an Object or Event Is Called

question 2

Multiple Choice

An irrational fear of an object or event is called a/an:

• A)phobia.
• B)compulsion.
• C)panic.
• D)obsession.

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Definitions:

Credit Sales

Sales of goods or services that are paid for at a later date, extending credit to customers.

Bad Debt Expense

An expense reported by businesses to account for receivables that are no longer collectible, affecting the net income.

Allowance for Doubtful Accounts

A contra-asset account on the balance sheet, estimating the amount of receivables that are expected to be uncollectible.

Uncollectible Accounts Receivable

Debts owed to a company that are considered unlikely to be recovered, often due to the debtor's inability to pay.