Which of the Following Are the Two Methods of Accounting

question 48

Multiple Choice

Which of the following are the two methods of accounting for uncollectible receivables?

• A)direct write-off method and liability method
• B)asset method and sales method
• C)allowance method and liability method
• D)allowance method and direct write-off method

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Definitions:

Polychronic

Relating to or denoting cultures that perceive time as fluid and multitasking as normal and acceptable.

Monochronic

A time management concept where tasks are performed one at a time, emphasizing focus and linear progression.

Personal Space

The physical area surrounding an individual that they consider their own, which if invaded may cause discomfort.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a feeling of contempt for other cultures.