The Principal Function of the Vent System Is to

question 35

Multiple Choice

The principal function of the vent system is to

• A) transport waste from fixtures to the building drain.
• B) siphon water from traps.
• C) allow sewer gases to enter the building.
• D) provide air circulation.

---

Definitions:

Bad Debt Expense

This refers to the amount of receivables a company does not expect to collect and hence records as an expense on its income statement.

Outstanding Accounts Receivable

Amounts owed to a business by its customers for goods or services delivered but not yet paid for.

Income Statement Approach

A method used to determine income tax liabilities by examining the revenues, expenses, gains, and losses reported on a company's income statement.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.