The Income Statement Approach to Estimating Uncollectible Accounts Is Called

question 76

Multiple Choice

The income statement approach to estimating uncollectible accounts is called the ________ method.The balance sheet approach to estimating uncollectible accounts is called the ________ method.

• A)direct write-off;allowance
• B)allowance;direct write-off
• C)percent-of-sales;aging-of-receivables
• D)aging-of-receivables;percent-of-sales

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Definitions:

Descent Groups

Social groups whose membership is based on lineage or ancestry, tracing relationships through either maternal or paternal lines.

Common Ancestor

An individual or species from which two or more descendant species or individuals are derived in evolutionary biology, indicating a point of divergence in their lineage.

Descent Group

A social group whose members talk about common ancestry.

Lineage Group

A social group tracing descent from a common ancestor, thus forming a basic unit in the social structure of many societies.