An Aging of Accounts Receivable Schedule Is Based on the Premise

question 209

True/False

An aging of accounts receivable schedule is based on the premise that the longer the period an account remains unpaid the greater the probability that it will eventually be collected.

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Definitions:

Scientific Method

A systematic approach to research and experimentation used to explore observations and answer questions.

Meters

Units of length in the metric system, equivalent to 100 centimeters or approximately 39.37 inches.

Conversion Factor

A ratio or factor used to convert quantities expressed in one set of units to another, such as from inches to centimeters.

Centimeters

A unit of length in the metric system equal to one hundredth of a meter.