ACCRUED INTEREST Definition

ACCRUED INTEREST is interest earned but not paid since the last due date.

Learn new Accounting Terms

ERROR OF OMISSION is an error which occurs as a result of an action not taken. In accounting, the error occurs when both the entries required for a transaction are completely omitted from the books.

FIELD TRIAL is a test of the performance of a new product under the conditions under which it is intended be used.

Suggest a Term