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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PROPRIETORS DRAW is when a business proprietor draws money for personal needs, but is taxed on business results (at individuals' marginal rate) regardless of drawings.

INDIFFERENCE POINT is that point on the indifference curve where the compared values intersect. See INDIFFERENCE CURVE.

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