Individuals Who Live in Public Housing _____

question 21

Multiple Choice

Individuals who live in public housing _____.

• A)live in better housing than if public housing was not available
• B)are better off than they would be absent public housing
• C)forfeit their eligibility for the EITC
• D)are automatically enrolled in the TANF program

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Definitions:

Direct Write-off Method

An accounting method where bad debts are charged against income at the time they are determined to be uncollectible, rather than being estimated and accounted for in advance.

Allowance for Doubtful Accounts

An estimation of the amount of credit sales that are expected not to be collected, representing a reserve for potential bad debts.

Notes Receivable

Legally enforceable claims for money owed to a business by its customers or clients, typically evidenced by a written promise to pay.

Formal Instruments of Credit

Legal documents that acknowledge debt and specify terms of repayment, such as notes payable or bonds.