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Business definitions

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Find a business definition with an example for each:

Account Balance
Reconcile
Depreciation
Accumulated
Audit
Cross reference
Merchandising business
Manufacturing business

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Solution Summary

The expert provides definitions in business settings.

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Account Balance - The amount of money in a financial institution at any given moment (bank checking account), or the amount owed to a third party such as a credit card, the electric company, or on a mortgage or loan.

Reconcile - To compare two accounting records (i.e. bank statement and checkbook, credit card statement and receipts) for agreement and discrepancies. The end result should be a balanced record between the two.

Depreciation - The decrease in the value of an asset, allocated over time for purposes of tax reporting and accounting. ...

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