DEBIT RECORD Definition

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DEBIT RECORD (DR) is an entry in a double-entry bookkeeping system recording an increase in an asset or an expense, or a decrease in liability, or owners equity item. Debit entries are conventionally made on the left-hand side of T accounts.

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CONTINGENCY PLAN is a plan that provides an outline of decisions and measures to be taken if defined circumstances, outside the control of the affected organization, should occur.

PARENT COMPANY is a company of which others are subsidiaries.

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