Because the allowance method results in better matching, accounting standards require its use rather than the direct write-off method, unless bad debts are immaterial

In 2000, approximately how much did consumers spend on goods and services worldwide?

A) $120 billion B) more than $20 trillion C) $10 billion D) $900 trillion

A Johnson corporation bond is currently selling for $850. The bond matures in 20 years, has a face value of $1,000, and a yield to maturity of 14.30%. The bond’s coupon rate is

A) 10%. B) 11%. C) 12%. D) 13%.