Which Type of Accountant Typically Practices as an Individual or as a Member

question 80

Multiple Choice

Which type of accountant typically practices as an individual or as a member of a public accounting firm?

• A) Certified Public Accountant
• B) Certified Payroll Professional
• C) Certified Internal Auditor
• D) Certified Management Accountant

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Definitions:

Bad Debt Expense

A ledger showing the value of invoices that a business anticipates it will not be able to receive payment for.

Aging of Receivables

A method for managing accounts receivable by categorizing debts by their due ages to estimate the timing of collections.

Allowance for Doubtful Accounts

An estimation of the accounts receivable that a company does not expect to collect, serving as a contra account to accounts receivable.

Bad Debt Expense

The cost associated with accounts receivable that a company is not able to collect.