24. The financial statement effects for uncollectible accounts occur when the company writes off the account because that is when all the uncertainty is resolved. True or False

26. Companies using LIFO are required to disclose the amount at which inventory would have been reported had it used FIFO. Similarly, companies using FIFO are required to disclose what their inventory would have been if the company had used LIFO. True or False

30. The percent used up ratio indirectly measures the likelihood of future capital expenditures that the company will have to make. True or False