With Respect to the Write-Off of an Uncollectible Account Receivable

question 50

Multiple Choice

With respect to the write-off of an uncollectible account receivable against the allowance for bad debts, a sound system of internal control would require:

• A) the write-off be approved by two employees.
• B) an investigation of why credit was extended to this customer in the first place.
• C) a lawsuit to be initiated to recover the uncollectible amount.
• D)the write-off to be made within six months after the date of sale.

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A set of principles designed by the American Psychological Association to guide conduct in psychology, ensuring integrity, professional competence, and respect.

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The principle or practice of selfless concern for the well-being of others, often at a cost to oneself.

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