ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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RESERVE is an accounting entry that properly reflects contingent liabilities.
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PRUDENCE CONCEPT, otherwise known as conservatism, says that whenever there are alternative procedures or values, the accountant will choose the one that results in a lower profit, a lower asset value and a higher liability value.
MANUAL TAG SYSTEM is an inventory tracking system used in inventory management that tracks inventory using tags removed at the point of purchase.