As the Moon and Earth Pull on One Another,the Oceans

question 84

Multiple Choice

As the Moon and Earth pull on one another,the oceans bulge about 1m on opposite sides of the Earth.In Earth's daily rotation,the area that passes the bulge experiences high tide.The time of the high tides fluctuates because

• A)not all areas of Earth use daylight savings time.
• B)while Earth spins on its axis,the Moon orbits the Earth-the timing is a bit off.
• C)as Earth spins on its axis,the Moon spins on its own axis-the timing is a bit off.

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Definitions:

Allowance for Doubtful Accounts

This is a subsidiary asset account created to approximate the amount of accounts receivable that could potentially be non-collectable.

Bad Debts Expense

An expense account reflecting estimated uncollectible amounts from customers for credit sales made in a specific period.

Aging of Accounts Receivable

A process of categorizing accounts receivable according to the length of time an invoice has been outstanding.

Balance Sheet Approach

An approach to international financial management that focuses on maintaining balance sheet integrity by managing assets and liabilities across different currencies.