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Question 8 The expense recognition Question 9 Which one of the following is not a principle of sound accounts receivable management? Question 10 Bad Debt Expense is considered Question 11 When an account is written off using the allowance method, the Question 12 All of the following statements regarding the financial statement presentation of receivables are true except: Question 13 Which of the following is not true regarding a promissory note? Question 14 The bookkeeper recorded the following journal entry Allowance for Doubtful Accounts 1,000 Accounts Receivable – Richard James 1,000 Which one of the following statements is false? Question 15 The direct write-off method is acceptable for financial reporting purposes only if the bad debt losses are insignificant. Question 16 When calculating interest on a promissory note with the maturity date stated in terms of days, the

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