Using the Graphical Display Below

question 7

Multiple Choice

Using the graphical display below.



-Identify the utility that has its smallest percentage of the total bill in March.

• A) Gas
• B) Electric
• C) Water
• D) None of the utilities has its smallest percentage of the total bill in March.

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Definitions:

Uncollectible Account

An account receivable that cannot be collected due to the debtor being unable or unwilling to pay.

Bankruptcy

A legal proceeding involving a person or business that is unable to repay outstanding debts, resulting in the distribution of assets to creditors and discharge of debts.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of a company's receivables that may ultimately not be collected.

Net Realizable Value

The estimated selling price of goods, minus the costs of their sale or disposal.