Open account


 

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Open account

Arrangement whereby sales are made with no formal debt contract. The buyer signs a receipt, and the seller records the sale in the sales ledger.



Open account

Similar Matches

Margin account

Margin account

An account with a broker where a client is able to purchase securities on credit after margin has been deposited.


Accounts payable

Accounts payable

Money owed to suppliers.


Capital account

Capital account

1. (Current definition) Since sometime in the 1990s, "capital account" refers to a minor component of international transactions, involving unilateral transfers of ownership of property. The common definition, below, describes what is now called the financial account. 2. (Common definition) A country's international transactions arising from changes in holdings of real and financial capital assets (but not income on them, which is in the current account). Includes FDI, plus changes in private and official holdings of stocks, bonds, loans, bank accounts, and currencies. 3. (Bretton-Woods definition) Same as common definition except excluding official reserve transactions. This definition was used under the Bretton Woods System of pegged exchange rates, but is less meaningful under floating exchange rates.


Account balance

Account balance

Credits minus debits at the end of a reporting period.


Managed account

Managed account

An investment portfolio one or more clients entrusted to a manager who decides how to invest it.


Further Suggestions

share account
Inflation accounting
flexible mortgage account
cheque account
Balance on current account
Account reconciliation
nominal account
Replacement cost accounting
Current account
Cumulative Translation Adjustment (CTA) account
Current account deficit
Frozen account
Capital account deficit
Current account surplus
Current account balance
Individual Savings Account
real account
revenue account
Capital account surplus
Generally Accepted Accounting Principles (GAAP)
IRA (individual Retirement Account)
Margin account (stocks)
Financial Accounting Standards Board (FASB)
Cost accounting
savings account


 
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