In Each Blank Below Write a Term That Might Be

question 25

Short Answer

In each blank below write a term that might be considered the opposite of the term next to the blank.
A. _______________ Interactive processing
B. _______________ System software
C. _______________ Waiting process

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Definitions:

Uncollectible Accounts

Accounts receivable that are considered unlikely to be collected and are therefore written off as a loss.

Direct Write-off Method

A method used in accounting to write off bad debts when they are determined to be uncollectible, impacting accounts receivable and expense accounts directly.

Recovery of Bad Debt

The process of collecting funds previously written off as uncollectible, generally resulting in an income statement gain the period it's recovered.

Percent of Sales Method

A financial forecasting approach that estimates future financial statements' items as a percentage of projected sales.