👉 Recoverance is a concept in accounting that refers to the act of recovering or returning money, property, or services to its rightful owner. It involves the process of reclaiming assets from their owners and returning them to the original owner or paying for them back to them. In simple terms, recoverance means taking back something that has been lost or stolen, either by someone else's actions or through legal means. This could be a lost check, a lost wallet, or a lost ticket. The
