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Unit of account |
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Unit of accountA basic function of money, providing a unit of measurement for defining, recording, and comparing value. I.e., one dollar signifies not only a one dollar bill, but also a dollar's worth of money in other forms (deposits), of wealth in other forms than money, and of any good or service with a market value.Similar MatchesPersonal accountsPersonal accountsA company's sales accounts of customers contained in the sales ledger and purchase accounts of suppliers contained in the purchase ledger are also known as personal accounts. Overdraft checking accountOverdraft checking accountA checking account associated with a line of credit that allows a person to write checks for more that the actual balance in the account, with a finance charge on the overdraft. Balance on current accountBalance on current accountA country's receipts minus payments for current account transactions. Equals the balance of trade plus net inflows of transfer payments. Account payeeAccount payeeAlso 'account payee only'. Words written on the face of a cheque between two parallel diagonal lines. The purpose is to ensure that the cheque may only be paid into an account in the name of the payee, that is the person to whom the cheque is made payable. This means that the payee cannot sign it in favour of another person. Current account surplusCurrent account surplusCredits minus debits on current account. Same as balance on current account. See surplus. Further SuggestionsZero balance account (ZBA)Inflation accounting Deferred account Omnibus account Replacement cost accounting Automated Customer Account Transfer (ACAT) Cumulative Translation Adjustment (CTA) account accounts receivable Account reconciliation Accounts receivable individual savings account Accounting earnings Accounts receivable financing Transcript of Account Money market demand account (MMDA) real account Option account managed account Account Ad Valorem Duty Restricted account current cost accounting Accrual Accounting Convention House account Capital account deficit Open account |
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