Which of the following answers correctly shows the effect of the December 31, 2012 adjusting entry for uncollectible accounts on the financial statements of the Lindley Corporation? 
Definitions:
Necessities
Basic needs that are essential for human survival and well-being, including food, water, shelter, and clothing.
Interlocking Directorates
The practice of sharing board members among different companies, which can lead to a concentration of power and influence.
Board of Directors
A group of elected or appointed members who jointly oversee the activities and governance of a company or organization.
Outright Ownership
A legal term indicating that a property or asset is owned completely without any encumbrances or conditions.
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