DEFLATION Definition

DEFLATION is a contraction of economic activity resulting in a decline of prices.

Learn new Accounting Terms

SECURED TRANSACTION is the right to repossess goods as security for payment of a debt.

IMPERSONAL ACCOUNTS represents accounts other than Personal Accounts. This may be sub-classified into: a. Real Accounts, e.g. Asset Account; and, 2. Nominal Accounts, e.g. Income and Expenditure Accounts.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.

Purchase and download Glossary
Only $9.95