The Effect of Improving Technology Over Time Is to Shift

question 53

True/False

The effect of improving technology over time is to shift the AC curve upwards over time.

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Definitions:

Allowance for Doubtful Accounts

A contra-asset account used to estimate the portion of a company's receivables that might not be collected, reducing the total value of accounts receivable by a corresponding amount.

Credit Sales

Sales made on credit, meaning payment is to be received after the delivery of goods or services.

Credit Card Discount

Fee charged by the credit card company for its services.

Net Sales

The revenue a company makes after subtracting the costs for returns, compensation for damaged or missing items, and any permitted discounts.