Match Each Description to the Appropriate Term (A-D)

question 183

Multiple Choice

Match each description to the appropriate term (a-d) . Each term may be used more than once.
-This method is most often used by small companies with few receivables.

• A)Direct write-off method
• B)Aging of receivables method
• C)Percent of sales method
• D)Allowance method

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Definitions:

Hypergeometric Probability

The probability of a certain number of successes in draws from a finite population without replacement, where each draw can result in a success or a failure.

Continuous Probability

The probability of outcomes in a continuous range of values rather than discrete outcomes.

Hypergeometric Formula

A statistical formula used to calculate probabilities without replacement for finite populations.

Without Replacement

A sampling method where each selected unit is not returned to the population before the next draw.