When Using an Aging Method for Estimating Uncollectible Accounts

question 116

Multiple Choice

When using an aging method for estimating uncollectible accounts:

• A)Older accounts are considered less likely to be collected.
• B)The number of days the account is past due is not considered.
• C)Older accounts are considered more likely to be collected.
• D)No estimate of uncollectible accounts is made.

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Definitions:

Spongocoel

The central cavity of a sponge.

Mesophyll

Photosynthetic tissue in the interior of a leaf; sometimes differentiated into palisade mesophyll and spongy mesophyll.

Spicule

A small, needle-like structure or particle, made of calcium carbonate or silica, found in sponges and certain other invertebrates, providing support.

Cnidaria

A phylum of aquatic invertebrate animals that includes jellyfish, corals, and sea anemones, characterized by their specialized stinging cells.