ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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CREDIT RECORD Definition
CREDIT RECORD (CR) is an entry in a double-entry bookkeeping system recording an increase in a liability; an owners equity item or revenue; or a decrease in an asset or an expense. Credit entries are conventionally made on the right-hand side of T accounts.
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TRADE NAME is a distinctive name used to identify a product or company and build recognition. Many corporations; e.g. Coca Cola, Ford, IBM, etc.; aggressively protect their trade names within the market.
BENEFIT PERIOD is the projected useful life time period over which an asset will be productive.