The Emancipation Proclamation Had the Effect of

question 40

Multiple Choice

The Emancipation Proclamation had the effect of

• A) inspiring new enlistments in the Union army.
• B) strengthening the moral cause and diplomatic position of the Union.
• C) increasing popular support for the Republicans in the 1862 election.
• D) quieting public opposition to Lincoln's war policies.
• E) undermining Confederate morale.

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Definitions:

Uncollectible Accounts

Accounts receivable that a company has determined it will not be able to collect due to customer default.

Direct Write-off

A method of accounting for bad debts where uncollectible accounts receivable are directly written off against income at the time they are deemed uncollectible.

Bad Debts Recovered

When an account receivable has been written off and is recovered, this account, which is in the Other Revenue category, is credited in the direct write-off method if the recovery is in a year following the write-off.

Allowance for Doubtful Accounts

A contra asset account that estimates the portion of receivables that may not be collectible, affecting a company’s net income and assets.