ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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FOOTING, in accounting, is the sum of a column of figures.
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FICTITIOUS ASSET is debit balance includes on balance sheets as assets that do not conform to the definition of an asset. Intentional includes of assets known to be fictitious assets may be ruled as fraud.
INCORPORATION is a legal process through which a company receives a charter and the state in which it is based allows it to operate as a corporation.