Passed the M8 Mock yesterday and just going through and revising.
Can someone explain why the provision for doubtful debits is an asset in the chart of accounts?
I answered it as being a liability in the chart of accounts.
But in the mock exam i got this wrong, but i do not understand how the correct answer is saying it is an asset in the chart of accounts.
I am i miss understanding something or is the mock exam got this wrong.