The 1995 Case Adarand Constructors V

question 32

True/False

The 1995 case Adarand Constructors v. Pena shows that, after years of disagreement, the Supreme Court is now unanimous on the issue of affirmative action.

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of accounts receivable that may not be collectible, reflecting potential losses due to credit sales.

Uncollectible Receivables

Debts owed to a company that are considered unlikely to be paid by the debtor.

Bad Debt Expense

An expense account reflecting the estimated amount of receivables that are expected not to be collected.

Debit Balance

A situation where the total debits in an account exceed the total credits. It is commonly found in asset and expense accounts.