QUESTION 30 The direct write-off method of accounting for uncollectible accounts emphasizes balance sheet relationships is not generally accepted as a basis for estimating bad debts OOC emphasizes cash realizable value emphasizes the matching of expenses with revenues QUESTION 25 Under the accrual basis of accounting: cash must be received before revenue is recognized events that change a company's financial statements are recognized in the period they occur rather than in the period in which cash is paid or received the ledger accounts must be adjusted to reflect a cash basis of accounting before financial statements are prepared under generally accepted accounting principles net income is calculated by matching cash outflows against cash inflows QUESTION 26 Which of the following stores is more likely to use specific identification method for their inventories? Walmart Cartier Jewelry Store Ann Taylor clothing store Best Buy