HIDDEN ASSET is any valued asset that is not included in the book value of a company. Companies have hidden assets such as intellectual property, or customer lists which are of great value, but not reflected in the book value.
CONTRA ENTRY, in accounting, is a ledger entry which is offset by an opposite entry, either a debit or credit.
AGENCY is the relationship between a principal and an agent wherein the agent is authorized to represent the principal in certain transactions.
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