CLOSING ACCOUNT Definition

Bookmark and Share

CLOSING ACCOUNT is the determining the balance of an account and posting an entry to offset such balance.

Learn new Accounting Terms

IMPAIRED GOODWILL is the recognition of the reduction in value of the intangible asset known as goodwill.

BRAND LOYALTY is a situation when a consumer is reluctant to switch from consumption of a favored good. The consumer is "loyal" to the brand.

Suggest a Term

Enter Search Term

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