The allowance for doubtful accounts, which appears as a deduction from accounts receivable on a balance sheet and which is based on an estimate of bad debts, is an application of the .a. materiality constraint O .b. matching principle o C. revenue recognition principle o .d.consistency characteristico The income statement reveals .a. C. net earnings (net income) of a firm at a point in time .b. D. net earnings (net income) of a firm for a period of time O .C. A. resources and equities of a firm at a point in time o .d. B. resources and equities of a firm for a period of time o Under current GAAP, inflation is ignored in accounting due to the .a. periodicity assumption O b. monetary unit assumption o C. going concern assumption o .d. economic entity assumption