ACCOUNT Definition

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ACCOUNT is the detailed record of a particular asset, liability, owners equity, revenue or expense.

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RECONCILE / RECONCILIATION is the adjusting of the difference between two items (e.g., balances, amounts, statements, or accounts) so that the figures are in agreement. Often the reasons for the differences must be explained. One example would be reconciling a checking account (bringing the checking ledger and bank balance statement into agreement).

MIDDLE MARKET COMPANY: see MID-CAP.

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