Business Terms and Jargon Explained

What is Bad debt

This is where a debtor in the balance sheet does not pay an outstanding debt and it is foreseeable that they will never pay. The sum seems non-recoverable and is written off as an expense in the profit and loss account.

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Affiliate adeem Kerning
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Counsel Materiality Coin of the realm
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Term created / updated 2005-07-16 23:12:15

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