15 Why does a business maintain a provision for doubtful debts account? to apply the accounting principle of prudence to avoid profit for the year being understated to have an accurate forecast of...

Extracted text: 15 Why does a business maintain a provision for doubtful debts account? to apply the accounting principle of prudence to avoid profit for the year being understated to have an accurate forecast of debts which will be uncollectible to reduce the expense of irecoverable debts in the future 16How should ioventory he valued2