SPONTANEOUS LIABILITIES Definition

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SPONTANEOUS LIABILITIES are obligations that are realized automatically, in the course of operating a company day-to-day, when a company buys goods and services on credit.

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DOUBLE RULE is a double line drawn under an amount when the amounts above are totals and no other entries will be made.

DISCOUNT is a decrease in value (often due to interest to be earned) or decrease in price.

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