When Using an Aging Method for Estimating Uncollectible Accounts

question 1

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:

Existential Generalization

A principle in logic where from a specific case, one infers the existence of cases or a generic form.

Quantifier Negation

The process of negating the quantifiers in logical expressions, effectively altering the scope and meaning of the statement.

Universal Generalization

A principle in logic and mathematics that allows for the formulation of a general statement from the observation of particular instances.

Existential Instantiation

A logical rule asserting that if an existential statement is true, there is at least one specific instance of its subject that satisfies its predicate.