SIMPLE JOURNAL ENTRY Definition

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SIMPLE JOURNAL ENTRY is a journal entry that involves only one debit and one credit in the transaction.

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CHECK DIGIT is a redundant digit added to a code to check accuracy of other characters in the code.

SPIN-OFF is a type of corporate reorganization in which the original corporation transfers some of its assets to a newly formed corporation. In exchange for the spun off assets, the original corporation receives all of the new corporations capital stock, which it then distributes to its shareholders as a property dividend.

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