Answer:
Percentage of net sales method
Explanation:
By using the percentage of net sales method, a business assumes that a certain percentage of the year's net sales will be uncollectible. This method relies on historical correlation between sales and uncollectible account from previous periods and can be highly reliable if a strong correlation can be observed.
Answer:
Statement which doesn't describe a trail balance is: Option A: Proves that all transactions have been recorded.
Explanation:
A Trial balance lists the accounts and their balances. It is like an internal control made by the accountants to check general ledger's accuracy. It extracts the list of debit and credit balance from the ledger and adds them. They should be equal else some error has been made. These errors might be human. It doesn't prove that company has recorded all its transactions.
So, all statements are correct describing trial balance except Option A.
Plagiarism is when you take correct for someone else's work
Answer:
determine purchase authority
Explanation:
Based on the scenario being described within the question it can be said that David was not successful because he forgot to determine purchase authority. In other words he gave the presentation to someone (the receptionist) that does not have any authority to make purchases for the company and is why he was unsuccessful. David needed to find the individual in charge of buying the pharmaceuticals for the company and give him the presentation.
