The Direct Write Off Method of Accounting for the Impairment

question 33

Multiple Choice

The direct write off method of accounting for the impairment of receivables

• A) is never acceptable.
• B) is an acceptable method when the effect of not applying the allowance method would be highly immaterial.
• C) is specifically disallowed under IFRS.
• D) usually results in the same net income as the allowance method.

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Definitions:

Dowry

The money, goods, or property a woman brings to a marriage.

Marriage

A legally or culturally sanctioned union between individuals that establishes rights and obligations between them, as well as between them and their children, and between them and their in-laws.

Lesbian Dating Violence

Acts of violence or abuse within a dating relationship among lesbian couples.

Heterosexuals

Individuals who are sexually attracted to people of the opposite sex.