DECRETION Definition

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DECRETION is a decrease. See also ACCRETION.

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CHART OF ACCOUNTS is a list of ledger account names and associated numbers arranged in the order in which they normally appear in the financial statements. The Chart of Accounts are customarily arranged in the following order: Assets, Liabilities, Owners Equity (Stockholders Equity for a corporation), Revenue, and Expenses.

BACKCHARGE is to charge a person or a firm an amount of money in order to make adjustments for a previous transaction.

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