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Sally is a new recruit in a state correctional academy class. She has no prior knowledge of the criminal justice system and has never been in a prison before. During the first week of class she learns the fundamentals of the criminal justice system and, specifically, the correctional system. The corrections academy is intent on producing quality officers who are committed to professionalism. Which of the following is NOT one of the qualities that Sally should possess?
Accounts Receivable
Unpaid amounts by customers for goods or services already supplied by a company.
Write Off
The accounting action of declaring that an asset is partially or totally worthless, reducing its value to zero in the books.
Contra-Revenue Account
An account that is used to record reductions in gross revenue, such as sales returns, allowances, and discounts.
Allowance Method
An accounting technique used to account for bad debts by estimating uncollectible accounts at the end of each period.
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