Match Each Description to the Appropriate Term (A-I)

question 26

Short Answer

Match each description to the appropriate term (a-i).
-A list of customer accounts sorted by age classes
A)Accounts receivable turnover
B)Net realizable value
C)Accounts receivable
D)Aging report
E)Receivables
F)Direct write-off method
G)Allowance for doubtful accounts
H)Bad debt expense
I)Factoring

• A)Accounts receivable turnover
• B)Net realizable value
• C)Accounts receivable
• D)Aging report
• E)Receivables
• F)Direct write-off method
• G)Allowance for doubtful accounts
• H)Bad debt expense
• I)Factoring

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Definitions:

Substitute

Replacement items or alternatives that consumers may choose, which impacts market demand and competition among sellers.

Demand Curve

A graphical representation showing the relationship between the price of a good or service and the quantity demanded by consumers over a range of prices.

Inferior Goods

Goods whose demand decreases when consumers' income increases. They are the opposite of normal goods, which see increased demand with higher income.

Income Increase

A rise in the amount of money received, especially by workers or businesses, over a specific period.