The Bad Luck Fortune Cookie Company has a 360-day past-due balance of $1,300.00.After repeated attempts at collection,the account is deemed worthless.The departments involved with processing this transaction up to the point of issuing an approved write-off memo are the
A) credit and accounts receivable departments.
B) treasurer, billing, and accounts receivable departments.
C) credit, treasurer, accounts receivable, and internal audit departments.
D) credit, treasurer, cash receipts, and internal audit departments.

Question

Quizplus · Accepted Answer

The departments involved in processing a write-off typically include the credit department (which assesses creditworthiness), the treasurer (who oversees financial operations), accounts receivable (which manages outstanding invoices), and internal audit (which ensures compliance and accuracy).

The Bad Luck Fortune Cookie Company Has a 360-Day Past-Due