The Account Allowance for Uncollectible Accounts Is Classified as A(n)

question 16

Multiple Choice

The account Allowance for Uncollectible Accounts is classified as a(n)

• A) contra account to Bad Debt Expense.
• B) expense.
• C) asset.
• D) contra account to Accounts Receivable.

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Definitions:

Written Consent

Formal approval documented in writing, often required for legal or official procedures.

Interstate Commerce Commission

The Interstate Commerce Commission (ICC) was a regulatory agency in the United States responsible for enforcing federal regulations governing railroad rates and operations. It has since been dissolved and replaced by other bodies.

Anti-Competitive Nature

Behaviors or actions by companies that unfairly restrict competition and control markets.

Administrative Agency

Any government body created by the legislative branch (e.g., Congress, a state legislature, or a city council) to carry out specific duties.