__________ Controls Are a Form of Economic Risk That Control

question 73

Multiple Choice

__________ controls are a form of economic risk that control the movement of capital in and out of a country.

• A)Political
• B)Exchange
• C)Ownership
• D)Tax
• E)Price

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account that reduces accounts receivable to reflect the estimated amounts that are expected to be uncollectible.

Uncollectible Percentage

An estimated fraction of accounts receivable that a company does not expect to collect.

Aging

A method used in accounting to categorize accounts receivables based on the length of time an invoice has been outstanding.

Allowance Account

An account used in accounting to reduce the value of accounts receivable to a more realistic amount by accounting for potential bad debts.