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nominal account used in the General Ledger of companies, close corporations and partnerships to distribute the profit on the financial statements of the company.
(also called perpetual inventory system) inventory system where an on-going record is kept of...
loss of value of tangible assets, such as vehicles and equipment due to usage in the business;...
budgeting by management done for a number of years in advance.
entry in the left-hand side of an accounting record using the double entry principle. A debit...