Question
Provision for bad and doubtful debts is based on the
principle ofSolution
Accounting conservatism is a principle that requires company accounts to be prepared with caution and high degrees of verification. All probable losses are recorded when they are discovered, while gains can only be registered when they are fully realized. The principle of conservatism means that a company shoul · record for the anticipated losses and expenses · but do not record the anticipated profits or gains As such, Provision for Doubtful debt is based on recording anticipated losses. The debtors have not defaulted yet, but if you are anticipating a default in the future, record it as an expense now.
The Internet utilizes the TCP/IP  protocol  and is accessed using a computer modem  or network that is connected through an ISP . What is t...
- In a 300-metre race, ‘Aman’ beats ‘Bhanu’ and ‘Charu’ by 30 metres and 60 metres, respectively. If ‘Bhanu’ and ‘Charu’ ran a 180 metre ...
What is the extension of a PowerPoint file?
Tipsy Beverages, the best selling soft drink nationally among soda drinkers aged 20 to 35, recently completed an expensive and successful ad campaign. T...
Select the option that is related to the third number in the same way as the second number is related to first number and the sixth number is related t...
How many people are standing between G and D in a straight line of 15 people (Note: All are standing in a straight line facing north.)?
I. F stan...
Statement:Â The Food and Agriculture Organization said that adult groups and swarms of desert locusts are maturing throughout Rajasthan and that subst...
In expression F % G $ K # H $ I @ L @ J, then, how is I related to mother of K?
If all the letters in the word ' COUNSELLOR' are arranged in alphabetical order from left to right in such a way that vowels are arranged first followed...
A sphere has a diameter of 35 cm. Find its total surface area.