Corporate Governance Is

question 4

Multiple Choice

Corporate governance is:

• A) A coherent system of concepts that underlie financial reporting
• B) A term referring to management's choosing to voluntarily disclose non-compulsory information in annual reports
• C) The system by which corporations are directed and controlled.
• D) A set of broad principles that provide the basis for guiding actions or decisions

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Definitions:

Written Off

Refers to the elimination of an asset's value from a company's balance sheet due to it being unrecoverable or having no further use.

Receivable

Funds that customers owe to a business for products or services already provided but not yet compensated for.

Bad Debt Reserve

An account set aside by a business to cover unpaid debts that are unlikely to be recovered.

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered but not yet paid for.