Solve the System by Eliminating the Variable

question 93

Multiple Choice

Solve the system by eliminating the variable.

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Definitions:

Direct Write-off Method

An accounting practice where uncollectible accounts receivable are written off directly against income at the time they are deemed irrecoverable.

Accounting Equation

Assets = Liabilities + Owner’s Equity.

Factoring

A financial transaction in which a business sells its accounts receivable to a third party at a discount to gain immediate cash.

Uncollectible Accounts

Accounts receivable that a business has been unable to collect and deems as unlikely to be paid.