Examlex
The purpose of Weber's and Fayol's principles was for the benefit of management, as opposed to pleasing customers.
Doubtful Accounts Expense
An estimated expense recognized in the accounting period for accounts receivable that may not be collectible, also known as a provision for bad debts.
Fiscal Year
A one-year period that companies and governments use for financial reporting and budgeting, which does not necessarily coincide with the calendar year.
Direct Write-Off Method
An accounting approach where uncollectible debts are written off directly against income at the time they are deemed nonrecoverable.
Bad Debts Expense
Bad debts expense represents the amount of receivables a company estimates it will not collect due to customer defaults.
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