- 1 Marks
FA – Nov 2014 – L1 – SA – Q6 – Accounting Treatment for Bad and Doubtful Debts
Identifying where the bad debts account is closed at the year-end in financial statements.
Question
In preparing financial statements, the bad debts account is closed by a transfer to:
A. Statement of financial position
B. Provision for bad debt account
C. Statement of profit or loss
D. Trading account
E. Statement of cash flows
Find Related Questions by Tags, levels, etc.
- Tags: Bad Debts, Closing Accounts, Financial Statements, Profit or Loss
- Level: Level 1
- Topic: Bad and Doubtful Debts
- Series: NOV 2014
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