Commerce Exam > Commerce Videos > Accountancy Class 11 > Bad Debts, Provision for Bad and Doubtful Debt
Bad Debts, Provision for Bad and Doubtful Debt Video Lecture | Accountancy Class 11 - Commerce
|
82 videos|161 docs|42 tests
|
FAQs on Bad Debts, Provision for Bad and Doubtful Debt Video Lecture - Accountancy Class 11 - Commerce
| 1. What are bad debts in commerce? |  |
Ans. Bad debts in commerce refer to debts that are unlikely to be collected by a business from its debtors. These debts are considered irrecoverable and can result in financial losses for the business.
| 2. What is the provision for bad and doubtful debts? | |
Ans. The provision for bad and doubtful debts is an estimated amount set aside by a business to cover potential losses from bad debts. This provision is created to ensure that the business's financial statements accurately reflect the true value of its accounts receivable.
| 3. How do bad debts impact a business's financial statements? | |
Ans. Bad debts can negatively impact a business's financial statements by reducing its net income and overall profitability. They also affect the balance sheet by reducing the value of accounts receivable and potentially increasing the provision for bad and doubtful debts.
| 4. What is the accounting treatment for bad debts? | |
Ans. In accounting, bad debts are typically written off as an expense on the income statement, which reduces the amount of accounts receivable. The provision for bad and doubtful debts is also adjusted accordingly to reflect the actual losses incurred by the business.
| 5. How can a business minimize the risk of bad debts? | |
Ans. A business can minimize the risk of bad debts by conducting thorough credit checks on customers before extending credit, setting credit limits, establishing clear payment terms, and following up on overdue payments promptly. Additionally, maintaining a sufficient provision for bad and doubtful debts can help mitigate the impact of bad debts on the business's financial health.
Related Exams
About this Video
|
Nov 22, 2024 Last updated |
Video Description: Bad Debts, Provision for Bad and Doubtful Debt for Commerce 2024 is part of Accountancy Class 11 preparation.
The notes and questions for Bad Debts, Provision for Bad and Doubtful Debt have been prepared according to the Commerce exam syllabus.
Information about Bad Debts, Provision for Bad and Doubtful Debt covers all important topics for Commerce 2024 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Bad Debts, Provision for Bad and Doubtful Debt.
Introduction of Bad Debts, Provision for Bad and Doubtful Debt in English is available as part of our Accountancy Class 11 for Commerce & Bad Debts, Provision for Bad and Doubtful Debt in
Hindi for Accountancy Class 11 course. Download more important topics related with notes, lectures and mock test series for
Commerce Exam by signing up for free.
Description
Video Lecture & Questions for Bad Debts, Provision for Bad and Doubtful Debt Video Lecture | Accountancy Class 11 - Commerce - Commerce full syllabus preparation | Free video for Commerce exam to prepare for Accountancy Class 11.
Information about Bad Debts, Provision for Bad and Doubtful Debt
Here you can find the meaning of Bad Debts, Provision for Bad and Doubtful Debt defined & explained in the simplest way possible.
Besides explaining types of Bad Debts, Provision for Bad and Doubtful Debt theory, EduRev gives you an ample number of questions to practice Bad Debts, Provision for Bad and Doubtful Debt tests,
examples and also practice Commerce tests.
|
82 videos|161 docs|42 tests
|
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Summary
,Provision for Bad and Doubtful Debt Video Lecture | Accountancy Class 11 - Commerce
,Previous Year Questions with Solutions
,ppt
,Sample Paper
,Bad Debts
,Objective type Questions
,practice quizzes
,Free
,Semester Notes
,shortcuts and tricks
,past year papers
,Important questions
,Provision for Bad and Doubtful Debt Video Lecture | Accountancy Class 11 - Commerce
,Provision for Bad and Doubtful Debt Video Lecture | Accountancy Class 11 - Commerce
,Viva Questions
,mock tests for examination
,study material
,Bad Debts
,Bad Debts
,video lectures
,Exam
,MCQs
,Extra Questions
;
Study Bad Debts, Provision for Bad and Doubtful Debt on the App
Students of Commerce can study Bad Debts, Provision for Bad and Doubtful Debt alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Bad Debts, Provision for Bad and Doubtful Debt,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Bad Debts, Provision for Bad and Doubtful Debt is prepared as per the latest Commerce syllabus.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup