ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ERROR OF ORIGINAL ENTRY Definition
ERROR OF ORIGINAL ENTRY, in accounting, occurs when the double entry is made but using an incorrect figure.
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SPOT COMMODITY is a commodity traded with the expectation that it will actually be delivered to the buyer, as contrasted with to a FUTURES CONTRACT that will usually expire without any physical delivery actually taking place. Spot commodities are traded in the SPOT MARKET.
VALUATION APPROACH is a general way of determining a value indication of a business, business ownership interest, security, or intangible asset using one or more valuation methods.