A withholding allowance exempts a specific dollar amount of an ...

[crazycityslicker]

A withholding allowance exempts a specific dollar amount of an employee's gross pay from federal income tax withholding.
 a. True
   b. False
   Indicate whether the statement is true or false

Question 2

The balance sheet account used to report the amount of accounts receivable that a company does not expect to collect is called ________.
 
  A) net accounts receivable
  B) allowance for uncollectible accounts
  C) uncollectible accounts expense
  D) bad debts expense

[joanwhite]

Answer to Question 1

True

Answer to Question 2

B