Ask Question
BusinessBusiness
16 December, 16:31

What happens if the amount of uncollectible account expense is overstated at year end?

A : Net Accounts Receivable will be understated.

B : Allowance for Doubtful Accounts will be understated.

C : Stockholders' equity will be overstated.

+3
Answers (1)
  1. 16 December, 17:27
    0
    Answer: The correct answer is "A : Net Accounts Receivable will be understated.".

    Explanation: If the amount of uncollectible account expense is overstated at year end the Net Accounts Receivable will be understated.

    because it had been estimated that a larger amount of accounts receivable would not be possible to collect, but at the end of the year it turned out that more accounts could be collected than was believed possible.
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “What happens if the amount of uncollectible account expense is overstated at year end? A : Net Accounts Receivable will be understated. B : ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
Following her 18th birthday, Madison began investing $24 at the end of each week in an account earning 7% per year compounded weekly. She plans to continue making weekly investments until she turns 68.
Answers (1)
g The rate of inflation tends to remain constant when Question 2 options: A) the unemployment rate increases faster than the NAIRU increases. B) the unemployment rate equals the NAIRU. C) the unemployment rate is above the NAIRU.
Answers (1)
How close are we to total economic collapse?
Answers (1)
How might living in western europe have been different from living in eastern europe during the middle ages
Answers (1)
When firms in monopolistic competition differentiate their products, among the techniques they use are?
Answers (1)
New Questions in Business
Decision on Transfer Pricing Materials used by the Instrument Division of Ziegler Inc. are currently purchased from outside suppliers at a cost of $1,350 per unit. However, the same materials are available from the Components Division.
Answers (1)
What is the present value of $100 to be deposited today into an account paying 8.0%, compounded semi-annually for two years?
Answers (1)
Which of the following errors, each considered individually, would cause the trial balance to be out of balance? A payment of $148 to a creditor was posted as a debit to Accounts Payable and a debit of $148 to Cash.
Answers (1)
On January 1, Year 1, Phillips Company made a basket purchase including land, a building and equipment for $895,000. The appraised values of the assets are $64,000 for the land, $920,000 for the building and $176,000 for equipment.
Answers (1)
Terri davis is planning to buy a new car. While on the internet she learned that the car has a base price of $16,007, options that total $2,334, and a $500 destination charge.
Answers (1)
Home » Business » What happens if the amount of uncollectible account expense is overstated at year end? A : Net Accounts Receivable will be understated. B : Allowance for Doubtful Accounts will be understated. C : Stockholders' equity will be overstated.
Sign Up Forgot Password?