GIVE FEW EXAMPLES OF HOW A BUSINESS MIGHT PROTECT ITSELF AGAINST UNCOLLECTED ACCOUNTS AND WHAT PROTECTION METHODS ARE REALLY WORTH THE EXPENSE. PLEASE GIVE A FEW EXAMPLES FOR EACH.© BrainMass Inc. brainmass.com June 3, 2020, 9:39 pm ad1c9bdddf
From an accounting standpoint the prudent thing to do is to have an account for recording an allowance for doubtful accounts. This will help insulate the business against any sudden shocks like the inability to collect on an account. This is normally calculated based on a historical percentage of accounts that end up being un-collectable.
From an operational ...
The expert determines how to protect against uncollectable account methods.