If an Account Is Collected After Having Been Previously Written

question 104

Multiple Choice

If an account is collected after having been previously written off,

• A) the allowance account should be debited.
• B) only the control account needs to be credited.
• C) both income statement and statement of financial position accounts will be affected.
• D) there will be both a debit and a credit to accounts receivable.

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Definitions:

Ecological-systems Perspective

A theoretical framework in psychology that emphasizes the varying systems of the environment and their impact on individual development, originally developed by Urie Bronfenbrenner.

Psychoanalytic Theorist

An individual who explores and theories about the unconscious motivations that influence human behavior, typically drawing on Freudian concepts.

Developmental Stages

Distinct phases in the life cycle of humans (and other organisms) that are characterized by specific physical, psychological, and cognitive developments.

Physical Appearance

The way an individual's body and features look to themselves and others, often influencing personal identity and social interactions.