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What are the essential criteria for including a subsidiary within an affiliated group?
A subsidiary may be included in an affiliated group if both of the following conditions are met:
Aging of Receivable Method
An accounting technique used to estimate bad debts by analyzing accounts receivable based on the length of time they have been outstanding.
Allowance for Doubtful Accounts
A contra-asset account that represents the amount of receivables a company does not expect to actually collect.
Bad Debts Expense
An expense account reflecting the cost of accounts receivable that a company does not expect to collect due to customer defaults.
Allowance Method
An accounting technique used to account for bad debts by estimating and recording uncollectible accounts receivable.
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