IOU Definition

Bookmark and Share

IOU is an informal debt instrument in the form of a written promise to pay back money owed; e.g., personal loans and professional services.

Learn new Accounting Terms

RENEWAL NOTE is a note that renews a previous note due date.

BUSINESS ENTERPRISE is a commercial, industrial, service, or investment entity, or a combination thereof, pursuing an economic activity.

Suggest a Term

Enter Search Term

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