When does an account become uncollectible?

a. when accounts receivable is converted into notes receivable

b. when a discount is available on notes receivable

c. there is no general rule for when an account becomes uncollectible

d. at the end of the fiscal year

Question

Business

Dakota Schmidt

2 December, 16:27

When does an account become uncollectible?

a. when accounts receivable is converted into notes receivable

b. when a discount is available on notes receivable

c. there is no general rule for when an account becomes uncollectible

d. at the end of the fiscal year

+5

Answers (1)

Know the Answer?

Rocco Singh · Answer 1

Answer: C - there is no general rule for when an account becomes uncollectible

Explanation:

Account uncollectible are receivables or debts that have no probability of being settled either because of bankruptcy of the debtor or as a result of fraud commited by the debtor.

When does an account become uncollectible?a. when accounts receivable is converted into notes receivableb. when a discount is available on notes receivablec. there is no general rule for when an account becomes uncollectibled. at the end of the fiscal year

When does an account become uncollectible?

a. when accounts receivable is converted into notes receivable

b. when a discount is available on notes receivable

c. there is no general rule for when an account becomes uncollectible

d. at the end of the fiscal year