JOINT PAYEE ENDORSEMENT Definition

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JOINT PAYEE ENDORSEMENT, normally, when a bank draft is made out to two parties both parties are required to endorse the back of the bank draft before it will be honored by the bank.

Learn new Accounting Terms

PERIODICITY CONCEPT is the concept that each accounting period has an economic activity associated with it, and that the activity can be measured, accounted for, and reported upon.

ON ACCOUNT is a partial payment made towards satisfaction of a debt.

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