List Four Types of Evidence and an Example of Each

question 115

Essay

List four types of evidence and an example of each.

---

Definitions:

Income Statement

A financial document that reports a company's revenues, expenses, and net income over a specific period.

Percentage of Sales Method

A financial forecasting model that assumes certain expenses and incomes will vary directly with sales.

Allowance for Doubtful Accounts

A contra-asset account that estimates the portion of accounts receivable which may not be collectible.

Bad Debts Expense

An expense account reflecting estimated uncollectible accounts receivable.