Bookkeeping terms

Question or Hint Answer or Word

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