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What do you mean by provision of doubtful debts?

Posted by Amit Chauhan 6 years, 8 months ago

CBSE > Class 11 > Accountancy

1 answers

Govind Jha 6 years, 8 months ago

Provision for doubtful debt is a provision created against debtors to cover the possible future bad debts. it is created by an entity to follow the conservatism/prudence principle which states provide for all possible future losses but don't consider future gains.

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CBSE > Class 11 > Accountancy