what is the difference between provision for bad debts and
reserve for bad debts?
- 9 Answers
- 35068 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / chandu
provision for bad debts means the amount kept a side for future known bad debts.
this amount is debited to profit and loss a/c,
where as reserve for bad debts means the amount kept a side for future unknown bad debts.
reserve for debts the amount debited to profit and loss aprapriation a/c.
| Is This Answer Correct ? | 8 Yes | 3 No |
Post New Answer View All Answers
What is COVER payment?
Define the word Profit in terms of business
What is Goods Lost by Fire/Accident/Theft ?
Workers name-Madhu Saha.Pay structure,basic-5850,HRA-1350,CCA-900,TRAV.ALLOW.900.DEDUCTION-PF-702.ESI-150,P.TAX-90.WHAT IS THE EXTRACT IN PF,ESI,IN BALANCE SHEET & sALARY IN p/l A/C . iS IT POSSIBLE THAT PERSONS'S NAME SHOUL COME I P/L
Whats the Balnace of Closing stock so if we issued the materil then the Closing stick will be dr and in case we pirchsed the materil the closing stock will be cr so tell me that i m correct or not
What goals do you have in your career
what are Equity shares,Preference shares,Bonus shares,Bond,Debentures,Dividend?
Name the Accounting Concepts
What is Going Concern, What is Dual Entry , What is Business entity and what are the names of Stock exchanges and currency of some countries, stock market related questions, Exchange rates, Banks and other informations
where we use the convetion of conservatisam in real life??
What are different types of reports made in tally
Is it correct to covered fesibility report expenses and survey expenses in pre-operative exepenses ?
What is Inventory Control?
what amounts to appropriation of profits? When provision for taxation does not amount to appropriation of profits?
what is the core accounts
