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Before the Colombian Exchange and Contact with the Old World,the

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Before the Colombian Exchange and contact with the Old World,the people of the Americas practiced


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Bad Debt Reserve

An account set aside by a business to cover unpaid debts that are unlikely to be recovered.

Accounts Receivable

Money owed to a company by its customers for products or services that have been delivered but not yet paid for.

Deductions

Items of expenditure that the tax code allows taxpayers to deduct from income to arrive at taxable income.

Taxable Income

The portion of an individual's or company's income used as a base to calculate the amount of tax owed to the government.

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