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The theory of constructivism suggests that:
Write Offs
Financial accounting action where the value of an asset is declared worthless, removing it from balance sheet accounts due to loss or impairment.
Uncollectible Accounts
Accounts receivable that a business does not expect to collect and writes off as a loss.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
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