Proper Accounting Requires That an Account Receivable Must Be Written

question 66

Multiple Choice

Proper accounting requires that an account receivable must be written off by the client when:

• A) the customer files for bankruptcy.
• B) the client company concludes that an amount is no longer collectible.
• C) the account is at least six months old.
• D) a collection agency cannot inspire the customer to pay the debt.

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Definitions:

Intelligence

The ability to acquire knowledge, think abstractly, understand complex ideas, adapt to environments, learn from experience, and solve problems.

Polygenically Determined

Traits that are influenced by multiple genes rather than a single gene, contributing to the phenotype's complexity.

Double Helix

is the structure of DNA, consisting of two strands that wind around each other, resembling a twisted ladder.

Dizygotic

Referring to twins that are formed from two separate eggs fertilized by two different sperm cells, resulting in genetically distinct siblings.