What Is the Difference Between Formal and Informal Rulemaking

question 89

Multiple Choice

What is the difference between formal and informal rulemaking?

• A)The 30-day notice requirement is not necessary for informal rulemaking
• B)The public hearings
• C)The notice need not be published except in the Federal Register for informal rulemaking
• D)The comments are made only during formal rulemaking

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Definitions:

Uncollectible Receivables

Accounts receivable that a company does not expect to collect and writes off as a loss.

Credit Sales

Sales transactions where the payment is deferred to a future date, typically resulting in the creation of accounts receivable.

Allowance for Doubtful Accounts

An allowance for doubtful accounts is a contra-account that reduces the total receivables on the balance sheet by the amount that is estimated to be uncollectible.

Bad Debt Expense

The cost associated with accounts receivable that a company does not expect to collect because customers default on their payments.