The following statements are true concerning the allowance method except: it does not always match revenue and expenses it can overstate accounts receivable it is the only method acceptable for federal income tax purposes it is the only method considered as generally accepted accounting principle

The following statements are true concerning the allowance method except: it does not always match revenue and expenses it can overstate accounts receivable it is the only method acceptable for federal income tax purposes it is the only method considered as generally accepted accounting principle