Listed Below Are Ten Terms Followed by a List of Phrases

question 127

Multiple Choice

Listed below are ten terms followed by a list of phrases that describe or characterize five of the terms.Match each phrase with the best term placing the letter designating the term in the space provided.
-_____ The total amount owed to a company from credit sales to customers.

• A)Accounts receivable
• B)Allowance method
• C)No effect
• D)Direct write-off method
• E)Net realizable value
• F)Aging method
• G)Bad debt expense
• H)Receivables written off
• I)Decrease assets and increase expenses
• J)Allowance for uncollectible accounts

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Definitions:

Fault Percentage

The proportion of blame assigned to each party involved in an accident or legal dispute, affecting liability and compensation calculations.

Damages

Financial compensation awarded to a party in a lawsuit for loss or injury caused by the actions of another.

Plaintiff

The party who initiates a lawsuit or legal action against another party (the defendant) in a court of law, alleging harm or infringement of rights.

Superseding Cause

An intervening cause that alters the natural sequence of events and relieves the original party from liability in a legal context.