Match the Term and the Explanation

question 38

Multiple Choice

Match the term and the explanation.Not all explanations will be used.

-Bad debt expense

• A)The time at which a loan must be repaid.
• B)A financial statement that shows the calculation of bad debt expense for a company.
• C)Total money owed the company for sales made on credit.
• D)Net credit sales revenue divided by the net income.
• E)An agreement by a borrower to repay the lending company with interest during a specified time period.
• F)Time at which a borrower must make annual interest payments.
• G)Contra-asset account.
• H)The days of the year divided by the receivables turnover ratio.
• I)The portion of accounts receivable that the company expects to collect.
• J)An account that is debited for the amount of credit sales estimated as uncollectible.
• K)Net credit sales revenue divided by the average net accounts receivable.
• L)Accounts receivable after cost of goods sold and taxes.
• M)The last date a good can be sold for the full price.
• N)The days of the year divided by the net sales revenue.
• O)Part of the Notes to Financial Statements that should include information on how a company accounts for doubtful accounts receivable.

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Definitions:

Self-regulation

The ability of an individual or organization to monitor and control their own behavior or operations, often without external intervention.

Core Thinking Skill

A fundamental ability to engage in cognitive processes such as analysis, synthesis, problem-solving, and evaluation.

Analytical

Pertaining to the systematic examination or evaluation of details in order to understand or explain something.

Disposed

Having a particular inclination or tendency towards something, either naturally or through conditioning.