If an Account Is Collected After Having Been Previously Written

question 84

Multiple Choice

If an account is collected after having been previously written off

• A)the allowance account should be debited.
• B)only the control account needs to be credited.
• C)both income statement and statement of financial position accounts will be affected.
• D)there will be both a debit and a credit to accounts receivable.

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Definitions:

Predict

To declare or indicate in advance; especially : foretell on the basis of observation, experience, or scientific reason.

Following

In the context of a sequence or process, it refers to something that comes after or as a result of another thing.

Reaction Mechanism

The step-by-step sequence of elementary reactions by which overall chemical change occurs, detailing the specific way in which atoms or groups of atoms move and bonds are formed or broken.

Detail

An individual feature, fact, or item that is considered significant and provides information or contributes to an overall understanding of a subject.