Answer :
The claim that the allowance technique is less timely in recognizing uncollectible accounts than the direct write-off method is untrue.
Receivables, loans, or other debts that have almost no possibility of being paid are referred to as uncollectible accounts. A debt may become uncollectible for a number of reasons, such as the debtor's bankruptcy, an inability to locate the debtor, the debtor's fraud, or the absence of adequate evidence to support the existence of the debt. Receivables, loans, and other financial obligations that a debtor will not pay are categorized as uncollectible accounts. Accounts that are uncollectible are due to the debtor's bankruptcy or reluctance to pay.
The typical return term for goods offered on credit is between 30 and 90 days. When a receivable or debt is written off because it won't be paid, the money is credited to accounts receivable and deducted from the allowance.
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