The Spa Manager Uses Data Such as Time Between Sales

question 86

Multiple Choice

The spa manager uses data such as time between sales transactions,the weight of a package for shipping,and the amount of money a customer spends in any given visit.These are examples of ________.

• A)probability distributions
• B)discrete variables
• C)continuous variables
• D)populations

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Definitions:

Uncollectibles

Accounts receivable that are recognized as not being collectible, representing losses to the company.

Allowance for Doubtful Accounts

A contra-asset account that reduces the total receivables on the balance sheet by an amount estimated to be uncollectible.

Uncollectible Accounts

These are debts that cannot be collected by a business, typically due to the debtor's inability to pay.

Adjusting Entries

The journal entries that bring the accounts up to date at the end of the accounting period.