Accounts Receivable Has a Balance of $5,000 and the Allowance

question 112

Multiple Choice

Accounts receivable has a balance of $5,000 and the Allowance for uncollectible accounts has a credit balance of $440.What is Net accounts receivable after a $160 account receivable is written off?

• A) $4,400
• B) $4,720
• C) $4,560
• D) $5,000

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Definitions:

Operating Segments

Operating segments are components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision-maker in deciding how to allocate resources and in assessing performance.

Reportable

Information or data that must be disclosed or submitted as required by law, regulations, or organizational policies.

Reportable Segment

A component of a business that can generate revenues and expenses and is regularly reviewed by the company's chief operating decision-maker for performance assessment.

Operating Segment

A component of a business that engages in business activities from which it may earn revenues and incur expenses, whose operating results are regularly reviewed by the company’s chief operating decision maker.