Accountancy, asked by jangidpinki5678, 7 months ago

what is bed debt for business

Answers

Answered by pratyush9675

Answer:

Bad debt is an expense that a business incurs once the repayment of credit previously extended to a customer is estimated to be uncollectible. Bad debt is a contingency that must be accounted for by all businesses who extend credit to customers, as there is always a risk that payment will not be received.

Explanation:

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Answered by omkar96452

Answer:

Bad debts are losses caused to ur business .They are called bad Debts because our debtors have not paid us money in exchange of the services/ goods provided by us.It is a loss suffered due to non-collection or non-recobery of money from our debtors

The one who is responsible for such bad debts is called as bad debtor

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