In Recording the Sale of Accounts Receivable the Commission Charged

question 223

Multiple Choice

In recording the sale of accounts receivable the commission charged by a factor is recorded as

• A) Bad Debt Expense.
• B) Commission Expense.
• C) Loss on Sale of Receivables.
• D) Service Charge Expense.

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Definitions:

Unconscious

The part of the mind that is inaccessible to conscious thought but that affects behavior and emotions, according to psychoanalytic theory.

Id

In psychoanalysis, a part of the mind in which innate instinctive impulses and primary processes are manifest.

Ego

Part of the psyche that mediates between the conscious, the unconscious, and reality, operating based on the reality principle, according to Freudian theory.

Basic Traits

Fundamental personality characteristics that are relatively stable over time and across situations.