The Berlin Conference of 1884

question 65

Multiple Choice

The Berlin Conference of 1884:

• A)did not involve either Britain or France.
• B)gave mining rights in the Congo to Portugal.
• C)established the ground rules for a new phase of European expansion.
• D)established the rights of citizens living in the Congo.
• E)limited British naval tonnage.

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Definitions:

Notes Receivable Account

An account on the balance sheet representing claims for payments from customers or other parties due within a year or more.

Dishonored Notes

Refer to promissory notes that have not been paid by the maker at maturity.

Accounts Receivable Method

A technique for estimating the amount of uncollectible accounts receivable and setting aside an allowance for bad debts, reflecting more accurate financial statements.

Allowance for Doubtful Accounts

A contra asset account that reduces the total receivables on the balance sheet by the amount estimated to be uncollectible.