ABATEMENT Definition

Bookmark and Share

ABATEMENT, in general, is the reduction or lessening. In law, it is the termination or suspension of a lawsuit. For example, an abatement of taxes is a tax decrease or rebate.

Learn new Accounting Terms

BALANCE is: a. equality between the totals of the credit and debit sides of an account; or, b. the difference between the totals of the credit and debit sides of an account.

ABSORBED COSTS incorporates both variable and fixed costs.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.