Examlex
Which of the below statements is accurate?
Dishonored
Used to describe a check or promissory note that has been presented for payment but is refused by the bank due to insufficient funds or other reasons.
Settlement
The process of concluding a transaction or an agreement by completing all procedural and payment aspects.
Account Receivable
Accounts Receivable represents the money owed to a company by its customers for goods or services that have been delivered but not yet paid for.
Allowance Method
An accounting technique used to account for bad debts by estimating and setting aside a portion of accounts receivable deemed unlikely to be collected.
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