If You Are Fired, It Is Acceptable To

question 55

Multiple Choice

If you are fired, it is acceptable to:

• A) Refuse to return company property
• B) Be angry
• C) Damage company property
• D) Make threats against employees

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Definitions:

Dishonored Note

A promissory note that has not been paid by the maker at maturity, resulting in a default.

Collection Efforts

Activities undertaken by a business or organization to pursue and receive payments owed by customers or clients.

Reversing Entries

Journal entries usually made at the beginning of an accounting period to reverse or cancel out adjusting entries from the end of the previous period.

Allowance Method

An accounting technique used to anticipate and adjust for potential future losses from uncollectible accounts receivable.