What is balance sheet,baddebts

Question

Accepted Answer

Balance sheet is a financial statement that shows a company's assets, liabilities, and shareholders' equity at a specific point in time. Bad debts are debts that are unlikely to be collected.

Balance sheet provides a snapshot of a company's financial position.
It includes assets (such as cash, inventory, and property), liabilities (such as loans and accounts payable), and shareholders' equity.
Bad debts are debts that are considered uncollectible and are written off as a loss on the company's financial statements.
Companies often set aside a provision for bad debts to account for potential losses from unpaid debts.
Example: If a company sells goods on credit and a customer fails to pay, the amount owed becomes a bad debt.
Example: A company may write off a bad debt by debiting bad debt expense and crediting accounts receivable.

What is balance sheet,baddebts

Top Capgemini Senior Associate 1 interview questions & answers

Popular interview questions of Senior Associate 1

Top HR questions asked in Capgemini Senior Associate 1