CREDIT RECORD Definition

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CREDIT RECORD (CR) is an entry in a double-entry bookkeeping system recording an increase in a liability; an owners equity item or revenue; or a decrease in an asset or an expense. Credit entries are conventionally made on the right-hand side of T accounts.

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CORPUS is often confused and misunderstood. The literal meaning of the term corpus is the main part/organ of a body. The term corpus also denotes the sum and substance of an issue/entity.

MAINTENANCE is the activity involved in maintaining something in good working order. May include replacement of significant portions of the item(s) being maintained.

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