If You Receive a Phone Call from a Debt Collector,he/she

question 53

Multiple Choice

If you receive a phone call from a debt collector,he/she must send you a written notice within ____________ days.

• A)5
• B)10
• C)15
• D)20
• E)30

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Definitions:

AICPA Survey

A survey conducted by the American Institute of Certified Public Accountants that gathers information on various topics related to accounting practices, trends, and professional issues.

Straight-Line

A method of calculating depreciation or amortization by evenly spreading the cost of an asset over its useful life.

Discontinued Item

A component of a company's operations that has been disposed of or is held for sale, and its earnings are separated out on the income statement.

MACRS

Modified Accelerated Cost Recovery System, a method of depreciation for tax purposes in the United States that allows faster write-offs of assets.