Which of the Following Methods Requires Two Entries to Record

question 167

Multiple Choice

Which of the following methods requires two entries to record the recovery of accounts receivable previously written off?

• A) direct write-off
• B) allowance
• C) Two entries are never required.
• D) Both direct write-off and allowance.

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Definitions:

Postindustrial Revolution

The phase following the Industrial Revolution, characterized by a shift from manufacturing-based economies to service-oriented and information-based ones.

Class Conflict

Refers to tensions and antagonisms in society arising from the socio-economic interests of people belonging to different social classes.

Marx's Theory

A social, political, and economic philosophy named after Karl Marx, which examines the effect of capitalism on labor, productivity, and economic development and argues for a worker revolution to overturn capitalism in favor of communism.

Weber's Theory

Max Weber's sociological framework that emphasizes the importance of social actions and the structures of society, including class, status, and power.