alowance aecou's of sales s00 debember 31,2017 for Accounts Receivable and the Allowance uncollectible T00 credit. aeuring 2017 were $2,750,000. It is would include a credit to the r Doubtful Accounts are $800,000 debit and $1.500 sales will be uncollectible. The adjusting entry wo B) $27,500. C) $26,000. D) $8,000. 16. Which of the following is a constraint in presenting financial information? A) Cost B) Full disclosure C) Relevance D) Consistency 17. According to Statement of Financial Accounting Concepts No. 8, materiality is an ingredient of the fundamental quality(ies) of: Relevance A) B) C) D) Yes No Yes Yes Yes No No No 18. In classifying the elements of financial statements, the primary distinction between revenues and gains is A) the materiality of the amounts involved. the likelihood that the transactions involved will recur in the future. B) the nature of the activities that gave rise to the transactions involved. C) the costs versus the benefits of the alternative methods of disclosing the transactions involved. D) 19. What is a purpose of having a conceptual framework? A. To make sure that economic activity can be identified with a particular legal entity. B. To segregate activities among different companies. C. To provide comparable information for different companies. D. To enable the profession to more quickly solve emerging practical problems and to provide a foundation from which to build more useful standards. The pervasive criterion by which accounting information can be judged is that of A) decision usefulness. B) freedom from bias. C) timeliness. D) comparability