You have been provided with the following bad debts account Bad Debts Account Bad debts 154,000 Balances brought forward: Balances carried forward: Specific provisions 4,000,000 Specific provisions 4,500,000 General provisions 1,000,000 General provisions 700,000 Profit and loss account 354,000 5,354,000 5,354,000 Which of the following statement is TRUE? Select one: The amount of specific provision that is allowable is sh. 4,500,000 The amount of general provision amounting to sh 700,000 is not taxable An increase in specific provision of sh, 500,000 is disallowable The decrease in general provision amounting to sh 300,000 is not taxable