A liability (financial obligation) that arises from an entity's actions and the others' expectations built on such actions where the...

A contra account that is used to adjust an owners' equity (stockholders' equity) account by reducing it to arrive at...

A contra account that is used to adjust an owners' equity (stockholders' equity) account by reducing it to arrive at...

A contra account that is used to reduce the balance of a liability on the statement of financial position. It...

A contra account that is deducted from an asset account to arrive at the asset's net book value. An example...

A single account that controls a set of subsidiary accounts. In other words, it summarizes the subsidiary accounts in order...

An account whose balance is opposite the balance in its related account (the so-called paired account). For instance, accumulated depreciation...

The value at which a liability is recorded in the books of a business. It appears in the statement of...

The amount at which a liability is recorded in the books of an entity. It appears in the statement of...

The amount/ value at which an asset is recognized after deducting any accumulated depreciation (for physical assets) / amortization (for...