Financial Accounting
A firm decided to provide for a 4% or $160 allowance for doubtful debts on all outstanding debts. Which of the following is the value of total outstanding debts of the firm at the time of creating the provision
2000
5000
1000
4000$
4000$
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A. One part
B. Two parts
C. Three parts
D. Four parts
Stock in trade is:
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B. A fixed Asset
C. An intangible Asset
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B. Credit side of an account
C. Both sides of an account
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B. Profit and Loss Account
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D. Sales Account
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