CRAFT Is an Acronym for ______

question 34

Multiple Choice

CRAFT is an acronym for ______.

• A)Computerized Relative Allocation of Facilities Technique
• B)Centralized Relative Allocation of Facilities Technique
• C)Computerized Relative Assessment of Facilities Technique
• D)Centralized Relative Assessment of Facilities Technique

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Definitions:

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.

Uncollectibles

Debts owed to a company that are considered unlikely to be recovered or paid.

Aging of Receivables

The process of categorizing accounts receivable by their due dates to estimate bad debt expenses.