Groups That Are Larger and More Impersonal Than Primary Groups

question 69

Multiple Choice

Groups that are larger and more impersonal than primary groups are known as:

• A)social categories
• B)status collections
• C)secondary groups
• D)collective groups
• E)coteries

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account used to reduce accounts receivable to its net realizable value by estimating uncollectible debts.

Bad Debts Expense

An expense recognized when it is probable that receivables will not be collected and is considered a cost of doing business on credit.

Allowance for Doubtful Accounts

A contra asset account that represents estimated uncollectible amounts from customers, reducing the gross receivables to their net realizable value.

Bad Debts Expense

The cost recognized when a company determines that a customer's loan or receivable account is uncollectible.