Examlex
A medical consultation should ask the client for very specific information regarding a client's diagnosis and health status. A facsimile machine is inadequate for legal documentation.
Terms 2/10
A common payment term indicating that a buyer can take a 2% discount on the invoice amount if paid within 10 days.
Accounts Receivable
Money owed to a business by its clients or customers for goods or services delivered but not yet paid for, typically recorded on the balance sheet.
Perpetual Inventory System
An approach in inventory accounting that employs computerized point-of-sale systems and enterprise asset management software to instantaneously record the purchase or sale of inventory items.
Credit To Inventory
An accounting entry that increases the inventory account, reflecting the addition of goods or the correction of an underreported inventory balance.
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