Provision for doubtful debts account is a/an
A. Asset account
B. Contra asset account
C. Nominal account
D. Liability account
Answer: Option B
Solution(By Examveda Team)
Provision for doubtful debts account is an Contra asset account. It is used along with the account Accounts Receivable in order for the balance sheet to report the net realizable value of the company's accounts receivable.This Question Belongs to Commerce >> Accounting
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