Glossary of Terms
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- Uncollectible accounts:
- Accounts receivable from customers who cannot or will not pay.
- Understandability:
- Carrying intended meaning; a qualitative characteristic of accounting information.
- Unearned revenues:
- Revenues received in advance for which the goods will not be delivered or the services performed during the current accounting period; a liability account.
- Units-of-Production Method:
- Depreciation method by which a fixed amount of depreciation is assigned to each unit of output produced by a plant asset.
- Usefulness:
- Carrying intended meaning; a qualitative characteristic of accounting information.