Plain English Is the Best Way to Ensure That Your

question 81

Multiple Choice

Plain English is the best way to ensure that your managers, staff, suppliers, customers and the wider public understand. In business terms, this is

• A) efficiency.
• B) effectiveness.
• C) equity.
• D) none of the above.

Grasp the concept and application of equivalent units of production in cost accounting.

Understand the principles of just-in-time (JIT) inventory management and its impact on cost accounting.

Match common terms and concepts used in process cost accounting with their definitions.

Understand the concepts of credibility and source likeability in persuasion.

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Definitions:

Direct Write-off Method

A method of accounting for bad debts that charges the amount directly to expense when it is determined to be uncollectible.

Allowance Account

An accounting reserve set up to account for future adjustments such as bad debts or product returns.

Direct Write-off Method

An accounting method where uncollectible accounts receivable are directly written off against income at the time they are deemed non-collectable.

Allowance for Doubtful Accounts

An accounting provision representing the estimated portion of receivables that may not be collected.