If You Were Setting a Transition Time, One Minute and Thirty

question 62

Multiple Choice

If you were setting a transition time, one minute and thirty seconds would be displayed as ____.

• A)1:30
• B)01:30.00
• C)1.30
• D)01.30

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Definitions:

Account

A record in financial accounting that tracks the financial transactions of a specific asset, liability, equity, revenue, or expense.

Aging

A method used in accounting to categorize the amounts owed by customers based on the length of time an invoice has been outstanding.

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.