Which expense is a common charge incurred for professional financial services?

Accountant fees represent a standard expense that businesses often incur when seeking professional financial services. These fees are charged by accountants for their expertise in managing financial records, preparing tax returns, advising on financial strategies, and ensuring compliance with applicable laws and regulations. Employing professional accountants can help businesses maintain accurate financial records, which is crucial for decision-making and financial health.

In contrast, bad debts relate to amounts that are not expected to be collected from customers and represent risks associated with credit sales but are not a regular service expense. Discount allowed refers to reductions given to customers on the selling price and is more of a sales strategy than an expense for professional services. Lastly, doubtful debts rates pertain to estimating the likelihood of not collecting certain receivables, again more related to managing risk rather than incurring charges for professional financial assistance.