entry in the right-hand side of an accounting record using the double entry principle. A credit entry decreases an asset or expense account and increases capital, liability or a revenue account.
tax levied by the government on certain goods and services. See input VAT and output VAT
(also called indirect raw material expense) expense for raw materials, such as consumable stores...
written document stating that a certain amount of money has been received
entry made from a journal to the correct side of a ledger account, but to the wrong account