Which of the Following Is False Regarding the Allowance for Doubtful

question 149

Multiple Choice

Which of the following is false regarding the Allowance for Doubtful Accounts?

• A) The Allowances for Doubtful Accounts is closed at the end of the fiscal year.
• B) Cash realizable value reduces receivables in the statement of financial position by the amount of estimated uncollectible receivables.
• C) Cash realizable value is also referred to as "amortized cost" by the International Accounting Standards Board.
• D) Cash realizable value is also referred to as "cash (net) realizable value."

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