Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 30 - No. 41)
Which of the following should a business do to minimise the risk of debts becoming irrecoverable?
Apply credit checks
Offer discounts for early payments
Use good credit control
Increase the provision for doubtful debts
Explanation
To minimize the risk of debts becoming irrecoverable, businesses should implement good credit control practices, credit checks, and offer discounts for early payments.
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