The Direct Write Off Method of Accounting for the Impairment

question 77

Multiple Choice

The direct write off method of accounting for the impairment of receivables

• A)is never acceptable.
• B)is an acceptable method when the effect of not applying the allowance method would be
• Highly immaterial.
• C)is specifically disallowed under IFRS.
• D)usually results in the same net income as the allowance method.

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Definitions:

Developmental Approach

A perspective in psychology and other social sciences that emphasizes how individuals grow and change throughout their lives, from infancy to old age.

Death Conceptualizations

Various cultural, religious, and personal views and beliefs about the nature of death and what if anything, lies beyond.

Limitations

Restrictions or constraints that limit what can be done or achieved.

Fear of Death

An anxiety or dread related to the awareness of mortality and the inevitability of death.