Which of the Following Is Not a Key Change in the Business

question 134

Multiple Choice

Which of the following is not a key change in the business environment since the 1970s?

• A) Greater demand for high-quality goods and services
• B) More highly educated workers
• C) Greater stability in consumer tastes and preferences
• D) Increased sophistication of technology

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Definitions:

Balance Sheet Approach

A method for valuing accounts that focuses on determining net realizable values for balance sheet items.

Credit Sales

Sales transactions where the payment is deferred, allowing the buyer to purchase goods or services on credit.

Bad Debts Expense

An expense reported on the income statement, representing accounts receivable that a company does not expect to collect.

Income Statement Approach

A method for creating an adjusting entry for bad debts by estimating uncollectible accounts based on income statement figures.