Which Would NOT Be an Example of a For-Profit Business

question 115

Multiple Choice

Which would NOT be an example of a for-profit business?

• A)Toys 'R Us
• B)Red Robin
• C)Petsmart
• D)Red Cross

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Definitions:

Closes Business

The process of halting operations and permanently shutting down a business entity.

Allowance for Doubtful Accounts

A contra-asset account on a company’s balance sheet that represents the estimated portion of accounts receivable that may not be collectible.

Percentage of Receivables Method

An accounting method used to estimate the amount of a company's accounts receivable that will not be collected.

Bad Debt Write-offs

The process of removing uncollectable accounts receivable from the accounting records, recognizing them as a loss.