The justification for the accrual basis of accounting lies in the needs of financial statement users for periodic information on the financial position and the profitability of the entity

Brickman Corporation uses the allowance method to account for uncollectible receivables. At the beginning of the year, Allowance for Bad Debts had a credit balance of $1000. During the year, Brickman wrote off uncollectible receivables of $2,100. Brickman recorded Bad Debt Expense of $2,700. What is Brickman's year-end balance in Allowance for Bad Debts?

A: $1,600 B: $4,800 C: $3,700 D: $600

In general, retailers prefer an area to have a specialized (as opposed to a diversified) economic base

Indicate whether the statement is true or false