A Person's Fundamental Beliefs and Principals, Which Are Used to Define

question 27

Multiple Choice

A person's fundamental beliefs and principals, which are used to define what is good, and how to distinguish right from wrong, are collectively called a person's:

• A)Morals
• B)Values
• C)Ethics
• D)Standards

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Definitions:

Customer Account

An account held by a business that details the transactions and financial relationship between the business and a specific customer.

Allowance Method

An accounting technique used to estimate and account for potential uncollectible debts.

Bad Debts Expense

Expenses linked to accounts receivable that a firm anticipates will not be collected.

Allowance Method

An accounting technique used to account for bad debts, which estimates uncollectible accounts receivable and creates a provision for them.