What Is Punctuated Equilibrium

question 43

Multiple Choice

What is punctuated equilibrium?

• A) another word for phyletic gradualism
• B) the idea that species remain stable for long periods, then evolve rapidly
• C) the idea that new species originate from small changes
• D) a phenomenon that occurs in divergent, but not convergent, evolution
• E) an idea that would garner more support if missing fossil links could be found

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Definitions:

Aging Receivables

A method of categorizing accounts receivable based on how long they have been outstanding to assess and manage credit risk.

Bad Debt Expense

Represents the portion of receivables that a company estimates it will not be able to collect.

Allowance for Doubtful Accounts

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

Uncollectible Accounts

Refers to debts owed to a company that it does not expect to be paid due to various reasons such as bankruptcy of the debtor.