Examlex
What does the term economic development mean?
Allowance for Doubtful Accounts
A contra asset account used to estimate the portion of a company's accounts receivable that may not be collected.
Write-off
The process of recognizing that a portion of a company's inventory or accounts receivable is no longer valuable and removing it from the financial statements.
Service Charge
A fee collected for services provided, often added to the base cost of services in industries such as hospitality, banking, and utilities.
Credit Card
A financial tool allowing users to borrow funds for purchases, which must be repaid, often with interest.
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