If an Account Is Collected After Having Been Previously Written

question 75

Multiple Choice

If an account is collected after having been previously written off,

• A)the allowance account should be debited.
• B)only the control account needs to be credited.
• C)both income statement and balance sheet accounts will be affected.
• D)there will be both a debit and a credit to accounts receivable.

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Definitions:

Traditional Advertising

Marketing efforts that use established channels such as television, radio, newspapers, and billboards to communicate to a broad audience.

Return On Investment

A measure used to evaluate the efficiency or profitability of an investment, calculated as the net profit from the investment divided by its cost.

Social Media Profile

An individual's or organization's public persona on a social media platform, consisting of various personal or business-related information and posts.

Marketing Plan

A comprehensive document outlining a company's advertising and marketing efforts for a specific period.