Which of the Following Is True

question 70

Multiple Choice

Which of the following is true?

• A)The APA currently has approximately 100,000 members.
• B)In 2005,72% of new Ph.D.s in psychology were obtained by women.
• C)In 2005,72% of new Ph.D.s in psychology were obtained by men.
• D)APA members can only belong to one division.

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Definitions:

Direct Write-Off Method

A method of accounting for bad debts whereby companies directly remove (write off) uncollectible amounts from accounts receivable when they are deemed uncollectible.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.

Net Realizable Value

The estimated selling price of an item in the ordinary course of business minus any costs associated with the sale or disposal of the item.

Bad Debt Expense

An estimated expense that represents the amount of receivables that a company does not expect to collect due to customers' inability to pay.