Answered: Which accounting concept is applied…

Which accounting concept is applied when an entry is made for provision for bad debts? A. Going- concern B. Materiality C. Accruel D. Historic cost

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter4: The Adjustment Process

Section: Chapter Questions

Problem 2Q: Describe the expense recognition principle (matching principle). Give specifics.

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Question

Which accounting concept is applied when an entry is made for provision for bad debts?

A. Going- concern

B. Materiality

C. Accruel

D. Historic cost

Definition Definition Receivable amount that a company is owed, but did not receive, and which may not be receivable in future.

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