CLEARED ITEMS Definition

Bookmark and Share

CLEARED ITEMS are accounts payable documents which have been paid.

Learn new Accounting Terms

SEPARATE DETERMINATION CONCEPT holds that each component of any category of assets or liabilities should be valued separately when arriving at a total to be shown in the accounts for that category. For example, the value of each stock item should be calculated individually (at the lower of cost and net realizable value) and these values should then be totaled to give the stock figure which will appear in the accounts. Stock should not be valued at the lower of total cost and total NRV.

SHIPPING DOCUMENT is a document prepared when goods are shipped. It lists the date shipped, the customer, method of shipment, and quantities and specifications of goods shipped.

Suggest a Term

Enter Search Term

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