The Ancient History of the Americas Is Not as Easily

question 1

Multiple Choice

The ancient history of the Americas is not as easily understood as that of India and China because

• A)we know of the peoples only from their artifacts.
• B)there were more varieties and numbers of cultures in the Americas.
• C)written records were not kept.
• D)All these answers are correct.

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Definitions:

Direct Write-Off Method

A method of accounting for bad debts that involves charging unpaid customer accounts directly to the income statement when they are determined to be uncollectible.

Accounting Equation

The fundamental equation that ensures the balance of a company's financial records: Assets = Liabilities + Equity.

Uncollectible Accounts

Accounts that are considered to be uncollectable due to the debtor being unlikely to pay, also known as bad debt.

Notes Receivable

This refers to promissory notes that are receivable by a business, representing amounts due from others that they have promised to pay within a specific period.