The Advantage of Having Accounts Based on the Position or Function

question 9

True/False

The advantage of having accounts based on the position or function is that, for the sake of security, it is easier to know who is logged on to a server.

Distinguish between ethical theories such as utilitarianism, rational ethics, and market value ethics.

Analyze the effects of ethical decision-making on stakeholders and society at large.

Identify the differences and relationships between ethics, law, morals, and social responsibility.

Evaluate the significance of ethics in business strategies and corporate social responsibility.

---

Definitions:

Allowance for Doubtful Accounts

A contra-asset account that reduces accounts receivable to reflect the estimated amounts that are expected to be uncollectible.

Uncollectible Percentage

An estimated fraction of accounts receivable that a company does not expect to collect.

Aging

A method used in accounting to categorize accounts receivables based on the length of time an invoice has been outstanding.

Allowance Account

An account used in accounting to reduce the value of accounts receivable to a more realistic amount by accounting for potential bad debts.