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In 100 to 150 words answer the following: Why is the direct write-off method not permitted under GAAP or IFRS? Why is the allowance method,
In 100 to 150 words answer the following:
- Why is the direct write-off method not permitted under GAAP or IFRS?
- Why is the allowance method, which is neither simple nor apparently more logical and relies largely on estimates rather than known events, approved under both sets of standards?
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Financial Accounting
Authors: Patricia A. Libby, Daniel Short, George Kanaan, Maureen Libby Gowing, Robert Libby
4th Canadian Edition
0070001499, 9780070001497
