Which of the following statements is not valid?
...Which of the following statements is not valid?
Provision for bad debts is deducted from debtors total in the Balance sheet
An increase in provision for bad debts appears on the debi side of the profit and loss account
A decrease in the provison for bad debts appears on the credit side of profit and loss account
The bad debt account is closed to the debit side of the profit and loss account
Bad debt is a deduction from debtors total afte making provision for bad and boughtful debts
Correct answer is E
No explanation has been provided for this answer.
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