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:

Elements

Elements are the basic components or essential parts that make up something, such as the periodic table elements in chemistry or the parts of a legal claim.

Offeree

is the person or entity to whom an offer is made, especially in the context of contracts, who has the power to accept or decline the offer presented.

Wrong Address

An incorrect or inaccurate address used in mailing or delivery, leading to misdelivery or non-receipt of items.

Acceptance

Acceptance in contract law refers to the express or implied agreement to the terms of an offer, forming a binding contract.