A Company Using the Allowance Method of Accounting for Bad

question 25

Multiple Choice

A company using the allowance method of accounting for bad debts has already set up an allowance for doubtful accounts. It now decides that one particular balance, for customer X, of $300, is uncollectible. The appropriate way to "write off" this item is:

• A) Record bad debt of expense $300, and reduce accounts receivable by $300
• B) Reduce sales by $300 and reduce accounts receivable by $300
• C) Reduce the allowance for doubtful accounts by $300 and increase bad debt expense by $300
• D) Reduce the allowance for doubtful accounts by $300 and decrease accounts receivable by $300

Explain the stages of the demographic transition theory, and critically evaluate the evidence supporting and contradicting this model.

Compare and contrast the viewpoints of Malthus and Marx on overpopulation, understanding their historical and theoretical contexts.

Understand the role and methods of demographers in studying populations.

Describe the concept of the Malthusian trap and its relevance to population studies.

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Definitions:

Marginal Benefit

The added gratification or usefulness that an individual acquires from the consumption of an additional unit of a good or service.

Marginal Benefit Curve

A graphical representation showing how the benefit to consumers changes with each additional unit consumed.

Total Benefit

The entire value or advantage received from consuming a good or service.

Marginal Benefit

The increased happiness or advantage someone gets from using another unit of a certain good or service.