Most Companies Will Use

question 49

Multiple Choice

Most companies will use:

• A)the direct write-off method for interim statements and the allowance method at the end of the year.
• B)the allowance method for interim statements and the direct write-off method at the end of the year.
• C)the percent-of-sales method for interim statements and the aging-of-receivables method at the end of the year.
• D)the aging-of-receivables method for interim statements and the percent-of-sales method at the end of the year.

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Definitions:

Centimeters

A metric unit of length equal to one hundredth of a meter.

Inches

A unit of measurement in the Imperial system, equal to 1/12th of a foot.

Marathon

A long-distance running race with an official distance of 42.195 kilometers (approximately 26.219 miles).

Kilometers

Units of length measurement in the metric system, equal to 1,000 meters.