Which of the following is the term commonly used to describe the practice of reporting the net realizable value of receivables in the financial statements?
A)Cash flow method.
B)Allowance method.
C)Direct write-off method.
D)Accrual method.

Question

Quizplus · Accepted Answer

Reporting accounts receivable in the financial statements at net realizable value is commonly called the allowance method of accounting for uncollectible accounts.

Which of the Following Is the Term Commonly Used to Describe