Franklin Roosevelt Was Motivated to Run for a Third Term

question 5

Multiple Choice

Franklin Roosevelt was motivated to run for a third term in 1940 mainly by his

• A) personal desire to defeat his old political rival, Wendell Willkie.
• B) belief that America needed his experienced leadership during the international crisis.
• C) mania for power.
• D) opposition to Willkie's pledge to restore a strict policy of American neutrality.
• E) belief that the two-term tradition limited democratic choice.

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account that represents the estimated amount of accounts receivable not expected to be collected.

Bad Debts Expense

An expense account that represents accounts receivable that a company does not expect to collect and writes off as a loss.

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that is expected not to be collected.

Percentage-of-Receivables Basis

A method used in accounting to estimate the amount of accounts receivable that will not be collected by applying a percentage based on historical data.