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.Management Sciences
A. Debtor‘s Account
B. Profit and Loss Account
C. Provision for Doubtful Debt Account
D. Either (b )or C. above
When Bad debts are recovered the entry is
Cash A/c …………………………………………………… Dr.
To Bad debts recovered A/c
This A/c can either be transferred to P& L A/c or Provisions for Doubtful Debts A/c.
Related Mcqs:
- Bookkeeping mainly concerns with which part of accounting process?
- A. Analyzing B. Preparing financial statements C. Recording financial information D. Auditing the books of accounts...
- The process of recording is done?
- A. Two times a year B. once a year C. Frequently during the accounting period D. At the end of a accounting period...
- In a three column cash book_______________does not exist?
- A. Cash column B. Bank column C. Petty cash column D. Discount column...
- Which of the following relationships is/are false?
- A. Net Profit = Gross Profit – Administration and Other expenses B. Net Profit = Gross Profit + Administration expenses and Other expenses C. Opening Stock + Purchases – Closing Stock = Cost of Sales D. Both B. and C. above...
- Which of these is not an operating income?
- A. Income from sale of trading goods B. Bad debts recovered C. Interest on FDs D. None...
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