Bad debt is expense to reduce the amount of accounts receivable not recoverable from customers.
Neither, a bad debt becomes an expense on the P&L. the provision created against this is liability
Provision for doubtful debt is current asset which is created as a reduction in accounts receivable balance and which is adjusted at actual bad debt.
NO. But the Current maturities of long-term debt is an operating liability.
no
Bad debt is expense to reduce the amount of accounts receivable not recoverable from customers.
Neither, a bad debt becomes an expense on the P&L. the provision created against this is liability
liability is a debt.
A bad debt is a expense which affects the owners equity as it is charged against the profit and loss account and it decreases the profit of the business.
Provision for doubtful debt is current asset which is created as a reduction in accounts receivable balance and which is adjusted at actual bad debt.
A liability is generally anything that costs you money. A phone bill is a liability. A debt is a kind of liability. You can take out a loan for a car- that is a debt; something owed in the future.
NO. But the Current maturities of long-term debt is an operating liability.
That is the correct spelling of "liability" (responsibility, debt, or burden).
Debt
what type of liability do stockholders have when it comes to corporate debt and responsibility
no
Yes short term debt is a current liability for business and payable normally within one fiscal year and shown under current liability section of liability side of balance sheet.