Rimrock,Inc

question 162

Multiple Choice

Rimrock,Inc.used the aging of accounts receivable method.At December 31,management determined that the net realizable value of accounts receivable was $608,000.The balance in Accounts Receivable was $768,000 and the unadjusted credit balance in Allowance for Doubtful Accounts was $32,000.What was the amount of Bad Debt Expense for the year?

• A)$192,000
• B)$128,000
• C)$160,000
• D)$32,000

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Definitions:

Self-serving Bias

A cognitive bias where individuals attribute positive outcomes to their own actions and negative outcomes to external factors.

Low Productivity

Reduced effectiveness in producing goods or services, often measured by output per labor hour.

Laziness

A lack of willingness or motivation to work or exert effort; often perceived as a negative trait resulting in reduced productivity.

Internal Causes

Factors within a person or organization that influence outcomes, such as attitudes, motivations, or knowledge.