When an Account Receivable Is Considered Uncollectible,the Person Who Generally

question 101

Multiple Choice

When an account receivable is considered uncollectible,the person who generally authorizes the write-off is the client's

• A) Credit manager.
• B) Treasurer.
• C) Accountant.
• D) Internal auditor.

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Definitions:

Deficiency Judgment

A court order that holds a borrower personally liable for the shortfall when the sale of a foreclosed property does not cover the outstanding loan balance.

Sale

The passing of title from a seller to a buyer for a price.

Real Property

Land and anything permanently attached to it, such as buildings and trees, considered a form of real estate.

Attachment Process

A legal procedure used by a creditor to seize the property of a debtor in order to satisfy a judgment.