When determining the uncollectible accounts expense in computing taxable income,income tax regulations:
A)Require the allowance method.
B)Require the direct write-off method.
C)Require the income statement approach.
D)Allow any method.

Question

Quizplus · Accepted Answer

Income tax regulations require the direct write-off method for determining uncollectible accounts expense when computing taxable income, as it only allows deductions for specific accounts that have been deemed uncollectible.

When Determining the Uncollectible Accounts Expense in Computing Taxable Income,income