DIRECT WRITE-OFF METHOD Definition

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DIRECT WRITE-OFF METHOD is a method of accounting for bad debts that records the loss from an uncollectible account receivable at the time it is determined to be uncollectible; no attempt is made to estimate uncollectible accounts or bad debt expense.

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UNAPPROPRIATED PROFITS are those profits that have been withdrawn from a business by its proprietors or appropriated for any other purpose.

TESTIMONY is evidence given by a competent witness under oath.

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