Why do companies use the allowance method to account for bad debts? Describe the diverse methods used to estimate bad debts in an accounting system. Provide examples for each method.
Assignment Question(s): Q1. Suppose you are an auditor who has been tasked with looking into the internal controls at a company. How can you evaluate the company’s internal controls to see if they are sufficient?(5Marks) Q2. Why do companies use the allowance method to account for bad debts? Describe the diverse methods used to estimate […]