Multiple Choice
When using the direct write-off method, writing off a customer's account as uncollectible reduces the balance of which account?
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7. Receivables and Investments
Net Accounts Receivable: Direct Write-off Method
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In the context of net accounts receivable, consider the numbers 140,395 and 241,638. The value of the digit 3 in 140,395 is how many times the value of the digit 3 in 241,638?
A
0.1 times
B
10 times
C
1 time
D
100 times
Verified step by step guidance1
Identify the place value of the digit '3' in the number 140,395. The digit '3' is in the tens place, which means its value is 30.
Identify the place value of the digit '3' in the number 241,638. The digit '3' is in the hundreds place, which means its value is 300.
Compare the two values: 30 (from 140,395) and 300 (from 241,638). To determine how many times one value is of the other, divide the larger value by the smaller value.
Set up the division: \( \frac{300}{30} \). This will give the factor by which the value of the digit '3' in 241,638 is greater than the value of the digit '3' in 140,395.
Interpret the result of the division to determine the correct answer from the options provided (e.g., 0.1 times, 10 times, 1 time, 100 times).
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