Answer:
c.The result is based on either a percentage of sales or an analysis of receivables
Explanation:
Generally, companies will choose between two approaches under the allowance method.
Percentage of Sales: Using historical data, a company examines the relationship between sales and uncollectible accounts receivable. If there is a fairly stable relationship between the two, a company will use the historical Uncollectible Accounts / Credit Sales ratio to estimate the bad debts expense in the current period.
This method is sometimes referred to as the income statement approach.
Percentage of Accounts Receivable: Using historical data, a company examines the relationship between accounts receivable and uncollectible accounts. Companies will oftentimes increase the accuracy of these estimates by looking at their aging schedule for patterns, rather than using a composite (or total) of their receivables
This method is sometimes referred to as the balance sheet approach
Answer:
Traditional and non mainstream cultural activities that are not financially driven are referred to as: <u>Folk culture</u>.
Explanation:
Folk culture refers to the set of artistic manifestations or cultural patterns of the popular classes. Folk culture includes all those cultural productions that are created and / or consumed by the lower or middle classes, that is, it refers to the forms of culture traditionally attributed to disadvantaged social classes. This designation is used to differentiate it from high culture, official or academic culture. Folk culture owes its existence to the multiplicity of relationships that coexist in a society and it is appreciated in the diversity of that or those unrepeatable characteristics and that in turn commune with traditions and unconventional activities / renovations generated in other environments.
The planning fallacy is the tendency to underestimate the amount of time it will take to complete a task.
This is further explained below.
<h3>What is
the planning fallacy?</h3>
Generally, The propensity to underestimate the amount of time it will take to accomplish a job is known as the planning fallacy.
In conclusion, The propensity to underestimate the amount of time it will take to accomplish a job is known as the planning fallacy.
Read more about the planning fallacy
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