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In the Future, What Radio Frequency Device May Replace the UPC

question 142

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In the future, what radio frequency device may replace the UPC code used on most merchandise sold today; this device will uniquely identify each piece of merchandise?


Definitions:

Accounts Receivable

Unpaid customer debts to a company for goods or services that have been supplied.

Bad Debts Expense

An expense reported on the income statement reflecting the cost of estimated uncollectible accounts receivable.

Net Credit Sales

Sales made on credit minus any sales returns or allowances, reflecting the actual credit sales revenue.

Uncollectible Accounts

Debts owed to a company that are considered to be uncollectable and are therefore written off as a bad debt expense.

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