1-The base used in estimating the Allowance for uncollectible is a. Percentage of Net profit b. Percentage of purchases c. Percentage of Gross Profit d. Percentage of sales
1-The base used in estimating the Allowance for uncollectible is a. Percentage of Net profit b. Percentage of purchases c. Percentage of Gross Profit d. Percentage of sales
College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)
22nd Edition
ISBN:9781305666160
Author:James A. Heintz, Robert W. Parry
Publisher:James A. Heintz, Robert W. Parry
Chapter14: Adjustments And The Work Sheet For A Merchandising Business
Section: Chapter Questions
Problem 1MC
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Question
1-The base used in estimating the Allowance for uncollectible is
a.
Percentage of Net profit
b.
Percentage of purchases
c.
Percentage of Gross Profit
d.
Percentage of sales
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