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Question

Vuser/attempt/quiz start frame.d2?ou-515178isprv-&drc-18qi-272374;&cfq-08kdnb-0; nancial Accounting for Managers SP18 B - Sectio... goo DOO: 000: sessments ? Communication ? My Tools ? e Left:1:47:41 Sharde Johnson: Attempt 1 Save Question 4 (5 points) d Allowance for Doubtful Accounts is listed on the balance sheet under the caption: A) investments B) fixed assets. C) current assets. D) stockholders' equity. Save Question 5 (5 points) After the accounts are adjusted and closed at the end of the fiscal year Accounts Quizzes ACZ760

Explanation / Answer

Solution: Answer is C). Current assets. Working Notes: Allowance for Doubtful Accounts is listed on the balance sheet under the caption of current assets. Allowance for Doubtful Accounts is shown as deduction from accounts receivable which fall under current assets, so Allowance for Doubtful Accounts is listed on the balance sheet under the caption of current assets. Please feel free to ask if anything about above solution in comment section of the question.

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