If an Account Receivable Written Off During the Current Year

question 97

True/False

If an account receivable written off during the current year is subsequently collected during the current year, the write-off entry is reversed.

---

Definitions:

Labor-Force Participation Rate

The portion of the working-age population that is engaged in or seeking employment, including both employed and unemployed individuals.

Unemployment Rate

The percentage of people in the labor pool who are without employment and are actively hunting for jobs.

Labor-Force Participation Rate

The percentage of the working-age population that is in the labor force, including both employed and unemployed individuals.

Employed

The state of having paid work or being engaged in an activity or enterprise as a means of earning an income.