Legal-Explanations.com - Legal resources in plain English
Legal-Explanations.com Home > Legal Definitions
 

Bad Debt

(n) Bad Debt is the amount receivable for any services rendered or goods exchanged to a person or entity which has not been paid or otherwise adjusted and the chances of getting that payment was nonexistent. The term is used in income tax provisions wherein the bad debt is treated as an expenses of the business entity

 
Legal-Explanations.com Home
About us | Contact us | Privacy | Terms of service

2004 - 2007 Legal-Explanations.com. All rights reserved