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WAEC Financial Accounting 1993 Question 13

Question 13

Bad Debts and Provisions

The term bad debts means debts

  1. A.recorded in wrong accounts
  2. B.owed by an employee
  3. C.paid with fake currency
  4. D.that cannot be collected
  5. E.owed by a supplier.
Show the answer and explanation

Answer: D (that cannot be collected)

Explanation

A bad debt is one the business will never be able to collect.