The First to Be Credited with the Idea That Light

question 22

Multiple Choice

The first to be credited with the idea that light is quantized was

• A)Max Planck.
• B)Albert Einstein.
• C)both Planck and Einstein at about the same time.

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Definitions:

Net Sales

The amount of sales generated by a company after deducting returns, allowances, and discounts.

Allowance Method

A method of accounting that estimates and sets aside an amount for potentially uncollectible receivables.

Bad Debts

Receivables from accounts deemed not collectable, which constitute financial losses for the business.

Accounts Receivable Turnover

A financial ratio that measures how many times a company collects its average accounts receivable balance within a specific period.