Glossary

Reset Glossary
appropriation account

Subject: 

  • Accounting

nominal account used in the General Ledger of companies, close corporations and partnerships to distribute the profit on the financial statements of the company.

See also: 

final account

Related Terms: 

nominal account
General Ledger

Related Content

business entity
Subject:
Accounting

a business that is independent and exists on its own.

trading business
Subject:
Accounting

business that buys and sells finished goods

manufacturer
Subject:
Accounting

person or business that produces a product from raw materials.

variable balance system
Subject:
Accounting

system where petty cashier requests money from the cashier when they need it

cash register tape
Subject:
Accounting

roll of paper listing all the transactions through the cash register