OPEN ALLOTMENT Definition

Bookmark and Share

OPEN ALLOTMENT is where there is no restriction as to an amount that may be taken from that which is being allotted.

Learn new Accounting Terms

CONTRA ENTRY, in accounting, is a ledger entry which is offset by an opposite entry, either a debit or credit.

ACCOUNTING ENTITY ASSUMPTION states that a business is a separate legal entity from the owner. In the accounts the business' monetary transactions are recorded only.

Suggest a Term

Enter Search Term

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