Which one of the approaches for the allowance procedure emphasizes the net realizable value of accounts receivable on the balance sheet?
A) The percentage-of-receivables approach
B) The percentage-of-sales approach
C) The percentage-of-accounts written off method
D) The direct write-off method
A
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Which of the following statements about the coverage for medical payments to others (Coverage F) under the homeowners policy is true?
A) Medical payments may be made for any resident of the named insured's household. B) Medical expenses incurred within 3 years of an accident are covered. C) Medical payments are made only if the insured is not legally liable. D) Covered medical expenses are limited to emergency room charges.
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Indicate whether the statement is true or false