One of the Methods for Recognizing Uncollectible Accounts Is the Direct

question 41

True/False

One of the methods for recognizing uncollectible accounts is the direct write-off method. Indicate whether each of the following statements is true or false.
a)The direct write-off method is not permitted by GAAP if uncollectible accounts expense is immaterial.b)The direct write-off method is allowed for some companies because of the going concern concept.c)The direct write-off method requires an advance estimate of anticipated uncollectible accounts.d)The direct write-off method is easier to use than the allowance method.e)The direct write-off method does not require the use of an allowance account.

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