Provide an Appropriate Response

question 59

Multiple Choice

Provide an appropriate response.
-In Virginia, each automobile license plate consists of a single digit followed by three letters, followed by three digits. How many distinct license plates can be formed if there are no restrictions on the digits or letters?

• A) 17,575,600
• B) 175,7560,000
• C) 17,576
• D) 175,760
• E) 10,757,600

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Definitions:

Direct Write-off Method

An accounting method where bad debts are charged against income at the time they are determined to be uncollectible, rather than being estimated and accounted for in advance.

Allowance for Doubtful Accounts

An estimation of the amount of credit sales that are expected not to be collected, representing a reserve for potential bad debts.

Notes Receivable

Legally enforceable claims for money owed to a business by its customers or clients, typically evidenced by a written promise to pay.

Formal Instruments of Credit

Legal documents that acknowledge debt and specify terms of repayment, such as notes payable or bonds.