Quality of Outputs Is Directly Related to the Quality of __________

question 30

Multiple Choice

Quality of outputs is directly related to the quality of __________.

• A)supplies
• B)materials
• C)customers
• D)inputs

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Definitions:

Notes Receivable

A customer’s written promise to pay an amount and possibly interest at an agreed-upon rate; amounts that customers owe for which a formal, written instrument of credit has been issued.

Direct Write-Off Method

A method of accounting for bad debts that involves charging unpaid accounts directly to the expense account when they are determined to be uncollectible.

Bad Debt Expense

The operating expense incurred because of the failure to collect receivables.

Account Receivable

Account Receivable represents funds owed to a company by clients or customers who have purchased goods or services on credit.