A comparison is made of the way R-matrix and S-matrix theories analyze the threshold resonances which occur in the scattering of neutral particles by a square well. Both approaches are found to provide very good approximate formulas. However, modifications of the usual S-matrix expansions must first be made. The behavior of the energy of the threshold level is quite different in the two alternatives. By comparing the two theories in their interpretation of the low-energy neutron cross sections of 1H, 16O, and 208Pb it is concluded that.R-matrix theory provides a better interpretation for unbound levels and S-matrix theory is preferable when the threshold level is bound.