ALLOWANCE FOR BAD DEBTS Definition

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ALLOWANCE FOR BAD DEBTS is an account established to record a subtraction from ACCOUNTS RECEIVABLE, to allow for those accounts that will not be paid.

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CONVERTIBLE CURRENCY is any national currency that can be easily exchanged for that of another country.

MANAGEMENT LETTER identifies issues not required to be disclosed in the Annual Financial Report but represent the auditors concerns and suggestions noted during the audit.

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