LICENSE Definition

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LICENSE is a legal document giving official permission to do something.

Learn new Accounting Terms

MARGINAL PROFIT is the change in the total profit that results from the sale of an additional unit.

UNCOLLECTIBLE ACCOUNT EXPENSE, also known as a bad-debt expense, is that expense incurred in the unsuccessful attempt to realize payment of a Account Receivable. Uncollectible account expenses must be incurred in the time period in which the related sales are made, e.g. an AR that originates from a credit sale in January and is determined to be uncollectible in June represents an expense in January.

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