ALLOWANCE FOR DOUBTFUL DEBTS Definition

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ALLOWANCE FOR DOUBTFUL DEBTS see ALLOWANCE FOR BAD DEBTS.

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E&O INSURANCE is an errors and omissions, or E&O, liability policy (often called malpractice insurance) covers liability for negligent acts, errors and omissions committed by professionals, including physicians, accountants, lawyers, etc.

ACTUAL COST is the amount paid for an asset; not its retail value, market value or insurance value.

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