MATCHING: -A Petition Filed with the Court by a Beneficiary Who

question 8

Multiple Choice

MATCHING:
-A petition filed with the court by a beneficiary who wishes to surrender any interest in a will

• A)special administrator
• B)administrator cum testamento annexo
• C)administrator de bonis non
• D)public administrator
• E)ancillary administrator
• F)Letters Testamentary
• G)Letters of Administration
• H)surety bond
• I)Decree of Distribution
• J)final account
• K)disclaimer

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Definitions:

Uncollectible Accounts Expense

An expense reported on the income statement, pertaining to the debt owed to a company that is unlikely to be recovered.

Percentage Of Credit Sales

A method used to estimate bad debts expense, based on the percentage of sales made on credit that are expected to be uncollectible.

Allowance Method

An accounting technique used to estimate and account for bad debts, acknowledging that a certain percentage of sales or receivables may not be collected.

Direct-write Off Method

An accounting technique where uncollectible accounts receivable are written off directly against income at the time they are deemed nonrecoverable.