Which of the following is not true about the Allowance for Doubtful Accounts?

It is a contra asset account.

It is used instead of reducing accounts receivable directly.

It is debited when uncollectible accounts are written off.

It is a liability account.

It is credited when bad debts expense is estimated and recorde

Recognizing bad debt expense in the same period as the related credit sale & recognizing cost of goods sold in the same period as the related sale of goods are both examples of:

Matching Principle

Fiduciary Accounting

Conservatism

Responsibility Doctrine

Recognizing bad debt expense in the same period as the related credit sale & recognizing cost of goods sold in the same period as the related sale of goods are both examples of:

Matching Principle

Fiduciary Accounting

Conservatism

Responsibility Doctrine