Purchase allowances refer to a price reduction (allowance) granted to a buyer of defective or unacceptable merchandise.
Answer the following statement true (T) or false (F)
True
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Which of the following is a challenge faced by corporations whom ignore the environment?
A) Alienation may occur from the local community, and failure to act may provoke stricter legislation and regulation. B) Investors become more difficult to attract as the enterprises cannot meet the criteria for environmental and ethical screening. C) Material and production costs may increase faster than for corporations practicing reduction and recycling. D) Revenues may suffer as customers prefer products and services less damaging to the environment. E) A favourable corporate image tends to gain momentum as social media reports their ignorance.
Which one of the approaches for the allowance method of accounting for bad debts emphasizes matching bad debts expense with revenue on the income statement?
a. The percentage of accounts receivable approach b. The percentage of net credit sales approach c. The direct write-off method d. The uncollectible approach
A deadlock is a phenomenon that prevents the processing of transactions
Indicate whether the statement is true or false
Evaluators of the detailed feasibility study should not include
a. the internal auditor b. the project manager c. a user representative d. the system designer