Glossary

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transaction

Subject: 

  • Accounting

agreement between a buyer and a seller to exchange an asset for payment

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debit
Subject:
Accounting

entry in the left-hand side of an accounting record using the double entry principle. A debit...

cost price method
Subject:
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liability
Subject:
Accounting

debt that the business incurs and that is payable in the short or long term.

petty cash box
Subject:
Accounting

lockable box for businesses to keep petty cash in.

non-profit organisation
Subject:
Accounting

organisation that renders a service to members