-The Presence of Rival Colonial European Powers on the Caribbean

question 19

Multiple Choice

-The presence of rival colonial European powers on the Caribbean "sugar islands" showed that .

• A) England controlled the larger islands in this region
• B) French possessions were found both in the Caribbean and in Mexico and Central America
• C) these European nations gained, exchanged, and lost colonial possessions through warfare
• D) Portugal acquired some of the smaller islands through diplomacy

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Definitions:

Allowance Method

An accounting technique that estimates and prepares for the amount of bad debts customers might not pay.

Direct Write-Off Method

The method of accounting for uncollectible accounts that recognizes the expense only when accounts are judged to be worthless.

Uncollectible Accounts

Funds that a company is unable to collect from its debtors, leading to recognition as a loss.

Direct Write-Off Method

A bookkeeping approach where bad debts are immediately expensed against earnings when they are considered irrecoverable.