When a company is using the direct write-off method, and an account is written off, the journal entry consists of a ________
A) debit to Accounts Receivable and a credit to Cash
B) credit to Accounts Receivable and a debit to Bad Debts Expense
C) debit to the Allowance for Bad Debts and a credit to Accounts Receivable
D) credit to Accounts Receivable and a debit to Interest Expense
B
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Which of the following is NOT a financial intermediary?
A. A credit union. B. A life insurance company. C. A mutual fund. D. A labor union.
The variable description is:
A) a phrase or sentence that identifies the variable in more detail and refers to the item on the questionnaire B) a phrase or sentence that identifies the variable in more detail but does not refer to the item on the questionnaire C) a label for the possible responses that respond to each data code number D) a label for the data code numbers E) encrypted for privacy reasons
The alignment of an organization's strategy with all the perspectives of the balanced scorecard results in performance objectives that benefit all stakeholders
Indicate whether the statement is true or false
Which of the following statements regarding discontinued operations is true?
a. The assets and liabilities of a disposal group classified as held for sale by an entity may be offset and shown as a single item on the balance sheet of the entity. b. The assets and liabilities of a disposal group of an entity must be shown separately in the asset and liabilities sections of the balance sheet of the entity and cannot be offset. c. An adjustment in a subsequent period to the selling price of a component of an entity sold must be reported as a retroactive adjustment in the prior-period financial statements of the entity in which the discontinued operation was reported. d. The gain or loss on disposal of a component of an entity classified as a discontinued operation need not be disclosed separately from the loss from operations of the discontinued segment. e. None of these answers is correct.