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:

Functionalism

A sociological perspective that views society as a complex system whose parts work together to promote solidarity and stability, focusing on the functions that social institutions serve.

Conflict Theory

A perspective in sociology that views society as composed of groups that are competing for scarce resources.

Census Family

A unit defined for statistical purposes in a census, often including individuals related by blood, marriage, common-law, or adoption living in the same dwelling.

Economic Family

A group of individuals related by blood, marriage, or adoption who live together and are financially interdependent.