INCOMPETENCE is lack of physical or intellectual ability or qualifications.
REGISTERED BONDS are bonds for which the names and addresses of the bondholders are kept on file by the issuing company.
UNCOLLECTIBLE ACCOUNT EXPENSE, also known as a bad-debt expense, is that expense incurred in the unsuccessful attempt to realize payment of a Account Receivable. Uncollectible account expenses must be incurred in the time period in which the related sales are made, e.g. an AR that originates from a credit sale in January and is determined to be uncollectible in June represents an expense in January.
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