With respect to the write-off of an uncollectible account receivable against the Allowance for Bad...
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Accounting
With respect to the writeoff of an uncollectible account receivable against the Allowance for Bad Debts account, a sound system of internal control would require: Multiple Choice the writeoff be approved by two employees. an investigation of why credit was extended to this customer in the first place. the writeoff to be made within six months after the date of sale. a lawsuit to be initiated to recover the uncollectible amount.
With respect to the writeoff of an uncollectible account receivable against the Allowance for Bad Debts account, a sound system of internal control would require:
Multiple Choice
the writeoff be approved by two employees.
an investigation of why credit was extended to this customer in the first place.
the writeoff to be made within six months after the date of sale.
a lawsuit to be initiated to recover the uncollectible amount.
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