Directions: Apply the Knowledge You Have Gained from Chapter 6

question 21

Multiple Choice

Directions: Apply the knowledge you have gained from Chapter 6 to answer the following questions. ​ Which specific topic would best complete the chart?
 

• A)history of youth theater
• B)challenges of staffing afterschool care
• C)value of co-ed softball teams
• D)cost of uniforms for school P.E.

---

Definitions:

Interest Due

The amount of interest that has been accrued and is payable on borrowings for a specified period.

Allowance Method

An accounting technique used to estimate and write off bad debts or accounts receivable that are not likely to be collected.

Bad Debts

Amounts owed to a company that are not expected to be collected, often recognized as an expense on the income statement.

Adjusting Entry

Journal entries made at the end of an accounting period to allocate revenue and expenses to the period in which they actually occurred.