SALT I

question 32

Multiple Choice

SALT I

• A)was an arms reduction treaty between the Soviet Union and the United States that had resulted from Nixon's détente strategy.
• B)Was a militant anti-war group that advocated armed resistance against the military industrial complex.
• C)was a black power organization that tried to organize the Black Panthers and Black Muslims into a larger nationwide militia.
• D)was the name for a new hallucinogenic drug that spread like wildfire in the counterculture of the 1970s.

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Definitions:

Aging

A method used to categorize accounts receivable based on the length of time an invoice has been outstanding.

Accounts Receivable

Unpaid customer debts to a company for goods or services that have been supplied.

Bad Debts Expense

An expense reported on the income statement reflecting the cost of estimated uncollectible accounts receivable.

Net Credit Sales

Sales made on credit minus any sales returns or allowances, reflecting the actual credit sales revenue.