If an Account Is Collected After Having Been Previously Written

question 184

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 balance sheet accounts will be affected.
• D) there will be both a debit and a credit to accounts receivable.

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Definitions:

End Items

Final products ready for sale or consumed as a completed part of a project or commodity.

Sheet Metal

Sheet Metal is thin, flat metal pieces of varying thickness, often used in metalworking to fabricate products or structures.

Mixed Integer Linear Optimization Model

An optimization technique involving mathematical formulas that aim to find the best outcome in a model with both integer and continuous variables under linear relationships.

Nonlinear Optimization Model

This is a mathematical model involving an optimization problem where the objective function or any of the constraints are nonlinear.