Examlex
The results of the Schachter-Singer experiment:
Uncollectible Account
An account receivable that cannot be collected due to the debtor being unable or unwilling to pay.
Bankruptcy
A legal proceeding involving a person or business that is unable to repay outstanding debts, resulting in the distribution of assets to creditors and discharge of debts.
Allowance for Doubtful Accounts
A contra-asset account used to estimate the portion of a company's receivables that may ultimately not be collected.
Net Realizable Value
The estimated selling price of goods, minus the costs of their sale or disposal.
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