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3 years ago

the direct write-off method is used for tax purposes but is generally not permitted for financial reporting. true or false?

1 answer:

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True, the direct write-off method is used for tax purposes but is generally not permitted for financial reporting.

Direct write-off method occur when account receivable uncollectible are written or recorded as bad debt and this occur when the money a company is expecting to receive from their customers or clients are uncollectible because the customer did not pay.

Direct write-off method is used for tax purposes because bad debt expense is recorded based on uncollectible amount which is the amount a company is not expecting to receive from their debtors.

This method is not in accordance with the Generally accepted accounting principles which is why it is generally not permitted for financial reporting.

Inconclusion True, the direct write-off method is used for tax purposes but is generally not permitted for financial reporting.

Learn more about direct write-off method here:brainly.com/question/12419642

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In the production of textiles, women would gather and clean the fibers. Once these were complete, the next step would be to ____

svlad2 [7]

Answer: The correct answer is "b. comb and sort the fibers.".

Explanation: Once these were complete, the next step would be to <u>comb and sort the fibers.</u>

The first step was to gather and clean the fibers and then comb and classify the fibers according to their nature.

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3 years ago

what was one argument made for the construction of the panama canal? responses it would result in lower tariffs on foreign goods

Aliun [14]

Based on a historical perspective the one argument made for the construction of the Panama Canal is that "<u>it would allow ships to move swiftly from the Atlantic and the pacific in the event of a war."</u>

<h3>The Construction of Panama Canal.</h3>

The construction of the Panama canal was done in 1914 and covers about 82 km of waterway in Panama that connects the Atlantic Ocean with the Pacific Ocean and splits up North and South America.

The Panama Canal construction was essential for the political economy of the United States it cuts across the Isthmus of Panama which serves as a conduit for maritime trade.

There are various reasons or arguments for the construction of the Panama canal.

<h3>The reasons for building the Panama canal are</h3>

It would prevent warfare among competing countries
It would lessen the distance, cost, and time it took for ships to carry cargo between the Atlantic and the Pacific Oceans
It would eliminate the danger of earthquakes in Nicaragua.

Hence, in this case, it is concluded that the correct answer is "<u>it would allow ships to move swiftly from the Atlantic and the pacific in the event of a war."</u>

Learn more about Panama Canal here: brainly.com/question/26573102

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1 year ago

jackson's programming paid its june rent of $500 cash. demonstrate how to use the accounting equation to record the transaction

Irina-Kira [14]

Answer: Jackson would decrease CASH and increase EXPENSES in the accounting equation.

Explanation: Jackson would lose cash by spending his money and his Living expenses will also rise along with it.

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1 year ago

In the private purchase of a used car, __________ places the burden on the buyer to make sure the car is worth the price, so it

Doss [256]

Answer:

Caveat emptor is the correct answer.

Explanation:

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2 years ago

A mortgage is a legal agreement between a borrower and a

djyliett [7]

Lender
which is usually the bank

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3 years ago

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