ASCII Definition

ASCII is American Standard Code for Information Exchange.

Learn new Accounting Terms

DEBIT RECORD (DR) is an entry in a double-entry bookkeeping system recording an increase in an asset or an expense, or a decrease in liability, or owners equity item. Debit entries are conventionally made on the left-hand side of T accounts.

PURCHASE ACCOUNT is an account in which all inventory purchases are recorded; used with the periodic inventory method.

Suggest a Term