Which method of recording uncollectible accounts expanse is consistent with accrual accounting?
Direct
Allowance write-off
A.
Yes
Yes
O B. Yes
No
O C. No
Yes
O D. No
No

Question

04-06-2024
Business

Answered

Which method of recording uncollectible accounts expanse is consistent with accrual accounting?
Direct
Allowance write-off
A.
Yes
Yes
O B. Yes
No
O C. No
Yes
O D. No
No

Answer :

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GinnyAnswer GinnyAnswer · Answer 1 · 2024-06-04T02:59:39-04:00

Final answer:

In accrual accounting, the allowance write-off method is used to record uncollectible accounts expenses, aligning with revenue recognition principles.

Explanation:

Accrual accounting requires matching expenses with revenues in the same accounting period they are incurred, regardless of when the cash is received or paid. When recording uncollectible accounts in accrual accounting, the method consistent with this principle is allowance write-off. This method involves estimating and recording an allowance for doubtful accounts to match the expense with the revenue.

Learn more about Recording Uncollectible Accounts Expenses in Accrual Accounting here:

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Which method of recording uncollectible accounts expanse is consistent with accrual accounting?DirectAllowance write-offA.YesYesO B. YesNoO C. NoYesO D. NoNo

Answer :

Final answer:

Explanation:

Learn more about Recording Uncollectible Accounts Expenses in Accrual Accounting here:

Other Questions

Which method of recording uncollectible accounts expanse is consistent with accrual accounting?
Direct
Allowance write-off
A.
Yes
Yes
O B. Yes
No
O C. No
Yes
O D. No
No