If Accounts Receivable Are Contributed When a Partnership Is Established

question 2

Multiple Choice

If accounts receivable are contributed when a partnership is established its fair value is recorded as the:

• A) gross amount.
• B) gross amount less a separate credit entry for allowance for doubtful debts.
• C) historical cost.
• D) disposal value.

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Definitions:

Preparedness

A predisposition to develop certain fears.

Stimulus Generalization

A phenomenon in which responses to one stimulus are also produced by similar stimuli.

Modeling

The process of learning by observing and imitating the behavior of others.

Exposure Technique

A therapeutic method used in treating anxiety disorders that involves the gradual exposure of a patient to their feared object, situation, or thought without any danger, to overcome their anxiety.