Glossary

Glossary-In Alphabetical Order

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There are 1 names in this directory beginning with the letter D.
D
Depreciation:1. The gradual exhaustion of the service capacity of fixed assets which is not restored by maintenance practices. It is the consequence of such factors as use, obsolescence, inadequacy and decay. 2. The expense in an accounting period arising from the application of depreciation accounting.Double Entry Bookkeeping:The system of bookkeeping in which every transaction is recorded both in one or more accounts as a debit and in one or more as a credit in such a manner that the total of the debit entries equals the total of the credit entries.Drawings:Withdrawals of assets (usually cash or merchandise) from a business by a partner or a sole proprietor.