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Which are valid bad debt expense assumptions

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Reference no: EM132774081

Problem 1. All of the following are valid bad debt expense assumptions except:

A. Direct write off method

B. Percentage of sales method

C. Percentage of receivable method

D. Treat bad debts as unusual items that do not often occur.

Problem 2. Below are five steps involved in a typical trade transaction. Which step is out of order?

A. Exporter ships the product to the importer

B. The draft is accepted by the importer's bank becoming a banker's acceptance

C. Exporter prepares a 60 day draft on importer in accordance with the letter of credit.

D. Exporter agrees to ship under a letter of credit

E. Importer's bank issues the letter of credit.

Reference no: EM132774081

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