Which One of the Following Is a Class of Simple

question 11

Multiple Choice

Which one of the following is a class of simple lipids?

• A) steroids
• B) triglycerides
• C) phoshpholipids
• D) waxes
• E) oils

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Definitions:

Allowance Method

An accounting technique used to estimate uncollectible accounts receivable and record bad debts expense.

Percent of Sales Method

A financial forecasting technique that estimates certain balance sheet and income statement items as a fixed percentage of projected sales.

Uncollectible Expenses

Costs that a business incurs from credits extended to customers that are not expected to be paid back, often recognized as bad debt expense.

Credit Sales

Sales made by a business where the payment is deferred to a later date, typically recorded as accounts receivable until payment is received.