On October 12 of the Current Year,a Company Determined That

question 103

Multiple Choice

On October 12 of the current year,a company determined that a customer's account receivable was uncollectible and that the account should be written off.Assuming the direct write-off method is used to account for bad debts,what effect will this write-off have on the company's net income and total assets?

• A)Decrease in net income; no effect on total assets.
• B)No effect on net income; no effect on total assets.
• C)Decrease in net income; decrease in total assets.
• D)Increase in net income; no effect on total assets.
• E)No effect on net income; decrease in total assets.

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Definitions:

Good-enough Parenting

A concept suggesting that parenting doesn’t have to be perfect to raise well-adjusted children, but meeting basic needs and providing support and love is sufficient.

Baumrind

A psychologist known for her research on parenting styles, identifying three major approaches: authoritative, authoritarian, and permissive.

Lenient

Exhibiting tolerance or a mild disposition in enforcing strict rules or punishments.

Helicopter Parents

Parents who take an overly protective or excessively interested approach in managing their children's lives, often intruding in matters of education and personal growth.