TEST COUNT, in inventory audits, is where a test count is inventory counted by the auditors to check the client's count.
DEBIT RECORD (DR) is an entry in a double-entry bookkeeping system recording an increase in an asset or an expense, or a decrease in liability, or owners equity item. Debit entries are conventionally made on the left-hand side of T accounts.
ADEQUATE DISCLOSURE is sufficient information in footnotes, as well as financial statements, indicative of a firms financial status.
Enter a term, then click the entry you would like to view.