Amount set apart to meet loss due to bad debt is a

Related MCQs

• Provision for bad debt is made as per the
• What happens when a bad debt is recovered?
• A bad debt recovered during the year will be
• At the end of the year Bad Debts Recovered Account is
• At the time of preparation of financial accounts, balance of Bad Debts Recovered Account will be transferred to
• The debts written off earlier as bad, subsequently recovered are
• X sends out goods to Y, costing 3,60,000. Goods are to be sold at cost plus 25% on sales. The consignor asked consignee to pay an advance for an amount equivalent to 60% of sales value. The amount of advance will be
• In a joint venture X and Y sharing p rofit and loss equally, X purchased goods costing of 40,000 and Y sold the goods for 50,000. X is entitled to get 1% commission on purchase and Y is entitled to get 5% commission on sales, the profit will be
• A purchased goods costing 2,60,000 for joint venture with B. B sold a major part of the goods at cost plus 25% on cost, for 2,50,000. Balance of goods were taken over by B at cost less 10%. Find out profit/loss on Joint Venture.
• Profit and loss account is prepared for a period of one year by following the concept of