For a tax-basis company, the direct write-off method to record bad debt is an acceptable method.

True or False?

In GAAP basis accounting, it is acceptable to for a bank overdraft to be reflected as a negative cash balance.

True or False?

The sale of Accounts Receivable without recourse is when the seller quarantees payments to the purchaser in the event

of a default by the debtor.

True or False?