Name the Mother Teresa’ of Pakistan?
A. Bilquis bano edhi
B. Dr. ruth pfau
C. Benazir bhutto
D. Dr amna buttar
At the time of preparation of financial accounts, bad debt recovered account will be transferred to?
A. Debtors a/c
B. Profit & loss a/c
C. Profit & loss adjustment a/c
D. Profit & loss appropriation a/c
Under the direct write-off method of recognizing a bad debt expense. Which of the following statements is/are true?
A. The bad debt expense is not matched with the related sales
B. Revenue is overstated in the year of sales
C. It violates the matching principle of accounting
D. All of the above
The creation of provision for doubtful debts given as an adjustment requires____________?
A. Debit profit and loss account and deduct the provision from debtors
B. Credit profit & loss account and deduct the provision from debtors
C. Credit profit and loss account and add the provision to debtors
D. Debit profit & loss account and add the provision to debtors