Examlex
Which of the following items is NOT a limit to the effectiveness of internal control systems in an organization?
Bad Debt Expense
An expense recognized when a company determines that receivables cannot be collected.
Allowance for Doubtful Accounts
A contra-asset account that reduces total receivables to reflect the estimated uncollectible amounts.
Specific Customer
A particular or individual client to whom products or services are sold or provided.
Allowance Method
An accounting technique that estimates and deducts accounts receivable that may not be collectible, to more accurately represent a company's financial position.
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