QUOTE Definition

Bookmark and Share

QUOTE is to name the price of an asset or service, e.g. stock price or investment.

Learn new Accounting Terms

MEMORANDUM FOR RECORD (MR) is an in-house memo covering information that would otherwise not be recorded in writing.

CONTRA ACCOUNT is a. the reduction to the gross cost of an asset to arrive at the net cost; also known as a valuation allowance; e.g., accumulated depreciation is a contra account to the original cost of a fixed asset to arrive at the book value; or, b. reduction of a liability to arrive at its carrying value; e.g., bond discount, which is a reduction of bonds payable.

Suggest a Term

Enter Search Term

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