Commerce students are widely aware of vital terms like assets, liabilities, bookkeeping, budgeting, capital investment, etc. Employers hunt for job seekers who bear a firm foundation on accounting and marketing terminologies. These help employees tackle problems in the real world with efficiency and that, in turn, promote their scope of growth in the professional sectors.
Students can try to get help to understand topics like these and also about provision for bad and doubtful debts homework answers from their respective college professors. But during exams or when there is a criterion of meeting an approaching deadline, reaching out to them becomes nearly impossible. These are the times when online education services prove handy. Students can approach them at their times of need to avail the services they offer.
Bad and doubtful debts significance
Doubtful debts comprise of a vast area of commerce textbooks. Students can obtain relevant information from the college prescribed textbooks. They can also get exposure to other additional facts they can even search on the internet since it is very easily accessible nowadays.
Now coming back to the concepts of different types of debts, these facts are essential for students to know if they aspire to work in banking or marketing sectors. For any help regarding provision for bad and doubtful debts homework answers, they can surf through different books available in college libraries or the handouts they receive from their institutions.
The provision for the bad or doubtful debts arises from different accounts that are receivable from those accounts which are not yet dispatched or collected. This is similar to those allowances which are related to doubtful accounts. These provisions may also be termed as allowances for the bad debts or the grants for the bad debts. A company estimates its doubtful or bad debts on the basis of its previous ventures and frame appropriate plans to handle them efficiently.
Different types of debts are-
- Good debts–
Those debts which have the potential to add to a companyâ€™s revenues and profits are called good or desirable debts. These debts some way or the other lead to enhancement of the performances of a company. They include certain bulk investments that will bring about long-term returns to the firm and that will better the net profit of the said organization. These are investments that generate more money from the money poured into a venture.
Good debts include the following-
Provisions for technical knowledge–
Employees with sound technical background are always appreciated. Hence if a company decides to invest in getting their employees suitable training, then this cash outlay may be considered a good debt. This form of investment will definitely enhance their performance and also increase the net productivity of the company.
Investment in real estate–
This is another mode of smart investment that has to offer a lot of lucrative prospects in the future. Resale values on properties only increase with time due to consequent betterment of infrastructure with the city. Even by renting out properties on a lease can also generate significant returns.
Having a firm concept on these matters is desirable when it comes to make suitable business proposals and to maintain ongoing projects effectively. While still in college, students get enough time to gain as much knowledge possible for writing Provision for Bad and Doubtful Debts Homework Answers. This will also help them apply those logics in their jobs.
Uncertain modes of investment which has way too much risk to offer in return for a mediocre amount of returns may be considered an inappropriate option for investment. There are certain debts that are completely unsteady in their results and must never be considered.
Bad debts include-
Investing in vehicles–
Buying a car requires a lot of money especially new ones. The interests on car loans are nowadays quite high if that has to be considered. Moreover, the newer and improved a model is greater is its fuel cost. On the other hand, due advancement in technology every month there is a new and improved model out on the road, and hence the resale values on cars only go downhill.
Their maintenance cost also requires extra expenses. When a mid-range car can easily serve the purpose, it is advisable for new business houses not to spend their money on overpriced vehicles just because of their looks or because the status they represent. Therefore, investing in latest high-end vehicles can surely be considered a total loss as far as wise investment plans are concerned.
Numerous credit cards–
This is another very important issue that one must take special note of. Credit cards may sometimes act as a safety reserve in cases of grave emergency, but most of the times they are known to lure people to invest on unnecessary goods. They are probably the worst types of bad debt.
Learning these important parts is always advisable students to make proper business and investment decisions in the future. Therefore, for any help regarding these topics and to solve provision for bad and doubtful debts homework answers they can consult assignment help agencies that are very easily approachable via the internet.
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