Randall,Inc

question 147

Multiple Choice

Randall,Inc.uses the allowance method supported by an aging of its accounts receivable to recognize uncollectible accounts expense in its financial statements.What method of recognizing this expense does Randall use in its income tax return?

• A)It must use the same method.
• B)The direct write-off method.
• C)Either the balance sheet or income statement approach is acceptable.
• D)None,since uncollectible accounts expense is not deductible for income tax purposes.

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Definitions:

Humanistic Approach

A perspective in psychology that emphasizes the study of the whole person and the uniqueness of each individual's experience.

Seize The Day

A phrase encouraging individuals to make the most of the present moment without concern for the future, often associated with the Latin term "carpe diem."

Defense Mechanism

Unconscious psychological strategies employed to protect a person from anxiety-arising thoughts or feelings.

Subception

A psychological process by which an individual responds to stimuli without consciously perceiving them.