Under the Allowance Method,the Charge Off of a Specific Account

question 35

True/False

Under the allowance method,the charge off of a specific account receivable does not influence the income statement nor the net receivable on the balance sheet at the time of the charge off.

---

Definitions:

pH

A logarithmic scale used to specify the acidity or basicity of an aqueous solution, ranging from 0 (very acidic) to 14 (very basic) with 7 being neutral.

Hydrogen Ions

Positively charged ions (H+) that contribute to acidity or alkalinity of solutions and play critical roles in many biological processes.

Primary Structure

The linear sequence of amino acids in a protein, determining its shape and function through various types of chemical bonds.

Genetic Mutation

A permanent alteration in the DNA sequence that makes up a gene, which can lead to differences in physical appearance, disease, or no effect at all.