TEST COUNT Definition

Bookmark and Share

TEST COUNT, in inventory audits, is where a test count is inventory counted by the auditors to check the client's count.

Learn new Accounting Terms

INFLATION ADJUSTMENT is whenever any figure is adjusted for inflation/deflation. It simply means that all fluctuations in price (upward or downward) that are directly attributable to inflation/deflation are reflected into that figure through either adding or subtracting the amount that is directly caused by inflation/deflation.

CONVERTIBLE PREFERRED STOCK is preferred stock which can be converted into common stock at the option of the holder of the preferred stock.

Suggest a Term

Enter Search Term

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