ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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SIMPLE JOURNAL ENTRY Definition
SIMPLE JOURNAL ENTRY is a journal entry that involves only one debit and one credit in the transaction.
Learn new Accounting Terms
INITIAL TERM is normally the first time period covered under an agreement or contract (the Term) at the end of which the agreement will either terminate or be automatically renewed under set conditions (Renewal Term), e.g. a one year contract.
RESERVE is an accounting entry that properly reflects contingent liabilities.