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UI Post-UTME Financial Accounting 2024 (Model questions) Question 23

Question 23

Bad Debts and Provisions

Bad debt is also known as

  1. A.Unpaid debt
  2. B.irrecoverable debt
  3. C.Payment debt
  4. D.current debt
Show the answer and explanation

Answer: B (irrecoverable debt)

Explanation

A bad debt is one that cannot be recovered.