Which of the following circumstances would not affect net income?

(i) Factoring receivables without recourse

(ii) Writing off receivables under the direct write-off method

(iii) Collecting previously written off receivables under the allowance method

(iv) Writing off receivables under the allowance method

Multiple Choice

• (i) and (ii)

• (iii) and (iv)

• (i), (ii) and (iii)

• (ii) and (iii)