what is accrual, what is provision for depreciation, what is Bad debts, Journal entries,

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Accepted Answer

Accrual is recognizing revenue and expenses when they are incurred, provision for depreciation is setting aside funds for asset depreciation, bad debts are uncollectible debts, journal entries record financial transactions.

Accrual is the accounting method of recognizing revenue and expenses when they are incurred, regardless of when cash is exchanged.
Provision for depreciation is the allocation of funds to account for the decrease in value of assets over time.
Bad debts are debts that are unlikely to be collected from customers and are written off as a loss.
Journal entries are the recording of financial transactions in the accounting system, following the double-entry accounting method.

what is accrual, what is provision for depreciation, what is Bad debts, Journal entries,

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