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Bookkeeping terms
Instructions:
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Surety Bond
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Trade Discount
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Credit
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Debit
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Written promise to pay damage or to indemnify against losses caused by the party names in the document through nonperformance or defalcation
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Increases liabilities, equity, revenue. Decreases asset or expense
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Allowance made to certain businesses and allwable regardless of the time when the account is paid Not Cash discount
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Increases asset or expense, Decreases liabilities,equity,or income
Bookkeeping terms
(Answer Key)
Instructions:
-
Surety Bond
-
Trade Discount
-
Credit
-
Debit
-
Written promise to pay damage or to indemnify against losses caused by the party names in the document through nonperformance or defalcation
-
Increases liabilities, equity, revenue. Decreases asset or expense
-
Allowance made to certain businesses and allwable regardless of the time when the account is paid Not Cash discount
-
Increases asset or expense, Decreases liabilities,equity,or income