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Tel: (612) 246-4616
CONTRA ENTRY, in accounting, is a ledger entry which is offset by an opposite entry, either a debit or credit.
TEST, in statistics, is taking a ample from a population to estimate characteristics of the population.
DEFERRED INCOME is that income for which the cash has been collected by the company, but have yet to be "earned". For example, a customer pays their annual software license upfront on the 1st Jan. As the company financial year-end is 31st May, the company would only be able to record five months of the income as turnover in the profit and loss account. The rest would be accrued in the balance sheet as a "deferred" creditor.
Enter a term, then click the entry you would like to view.