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Which of the Following Gained the Most from Technological Advances

question 33

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Which of the following gained the most from technological advances in the 1940- 1990 period?


Definitions:

Allowance Method

An accounting technique used to estimate and account for bad debts where the company anticipates a certain percentage of accounts receivable will be uncollectible.

Bad Account

An account receivable that has been deemed uncollectible and is written off as a loss.

Pre-Reconciliation Cash Balance

The cash balance reported in accounting records before adjustments are made for reconciling items in a bank reconciliation.

Outstanding Checks

Checks that have been written and recorded in a company's financial ledger but have not yet been cashed or cleared by the bank.

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