A Specific Category of Data Such as a Customer's Name

question 24

Multiple Choice

A specific category of data such as a customer's name, city, state, or phone number is called a(n) ____.

• A) Object
• B) Record
• C) Field
• D) Table

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Definitions:

Direct Write-Off Method

An accounting method where uncollectible accounts receivable are directly written off against income at the time they are determined to be uncollectible.

Allowance Method

An accounting technique used to estimate bad debts (uncollectible accounts receivable) and represent them in financial statements.

Industry Average

A benchmark or standard calculated by taking the average of a specific metric across multiple companies within the same industry, useful for comparative analysis.

Adjusting Entry

An accounting record made to update the balances of accounts at the end of an accounting period before the preparation of financial statements.