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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VOLUME GAIN is to obtain advantages due to increase in volume, such as value increase, points in gross margin or profit.

TIME INTERVAL CONCEPT, in accounting, requires that financial statements be prepared at regular intervals, e.g. monthly, quarterly, annually.

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