Ajay Sells "Bulk Up" Steroids Over the Internet

question 23

Multiple Choice

Ajay sells "Bulk Up" steroids over the Internet.He is arrested and charged with the sale of a controlled substance.This is cyber crime,which is

• A)a new category of crime that is not related to older types of crime.
• B)a crime that occurs in the virtual community of the Internet.
• C)a crime that is less real than the same crime in the physical world.
• D)no crime.

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Definitions:

Allowance Method

An accounting technique to estimate and record bad debts expense, acknowledging that a certain percentage of accounts receivable may not be collectible.

Aging Receivables

A method of categorizing accounts receivable based on how long they have been outstanding to assess and manage credit risk.

Bad Debt Expense

Represents the portion of receivables that a company estimates it will not be able to collect.

Allowance for Doubtful Accounts

A contra account that estimates the portion of accounts receivable which may not be collectible.