Briefly explain the direct write off method for accounting for bad debts.
What will be an ideal response?
The direct write of method of accounting for bad debts writes off bad debt once it is apparent the customer is not going to pay. The amount due is removed from accounts receivable and expensed.
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A credit memorandum appeared on Central Company's bank statement. How will Central treat this amount on its bank reconciliation?
a. Add it to the bank balance b. Add it to the book balance c. Deduct from the bank balance d. Deduct from the book balance
One of the uses of marketing research is to identify market opportunities; however, the identification of problems is not a use of marketing research, but rather a use of the firm's internal auditing system
Indicate whether the statement is true or false
Markup is:
A. represented by net profit. B. often expressed as a fraction. C. the money available to cover only the costs of marketing the product. D. based on the product's selling price. E. based on the product's discount price.
Before signing a lease for an apartment, what can you do to minimize the possibility that you might become a victim of criminal activity in or around the complex?