The Collection of an Account That Had Been Previously Written

question 17

Multiple Choice

The collection of an account that had been previously written off under the allowance method of accounting for uncollectibles

• A) will increase income in the period it is collected.
• B) will decrease income in the period it is collected.
• C) requires a correcting entry for the period in which the account was written off.
• D) does not affect income in the period it is collected.

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Definitions:

Ostracized

describes the act of excluding or ignoring someone from a group or society.

Explorer

An individual who investigates or travels to unfamiliar areas in search of knowledge, adventure, or discoveries.

Tending-And-Befriending

A behavioral response to stress involving seeking social support and nurturing activities to alleviate stress.

Fight-Or-Flight

A physiological response to perceived harmful events, attacks, or threats to survival, instigating an automatic response in the nervous system to either confront the threat or escape.