CREDIT Definition

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CREDIT, in accounting, is an accounting entry system that either decreases assets or increases liabilities; in general, it is an arrangement for deferred payment for goods and services.

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10-Q is a report filed quarterly to the Securities and Exchange Commission (SEC) by most reporting companies. It includes unaudited financial statements and provides a continuing view of the companys financial position during the year. The report must be filed for each of the first three fiscal quarters of the companys fiscal year and is due within 45 days of the close of the quarter.

AS-IS CONDITION is the transfer of title to a property in an existing condition with no warranties or representations.

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