A Customer Mix Refers to the Assortment of People Who

question 32

True/False

A customer mix refers to the assortment of people who differ on demographic,socioeconomic,or other characteristics and who patronize a service organization.

---

Definitions:

Bad Debts Expense

A provision in accounting for accounts receivable that are not expected to be collected, recognizing them as an expense.

Allowance for Doubtful Accounts

A contra-asset account that represents the amount of accounts receivable a company does not expect to collect.

Uncollectible Accounts

Accounts receivable that are deemed to be uncollectible, leading to them being written off as a bad debt expense.

Aging

The process of categorizing accounts receivable based on the length of time an invoice has been outstanding.