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WordNet-Online
Definitions from WordNet
Noun double-entry bookkeeping has 1 sense
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Definitions from the WebDouble-Entry BookkeepingNoun: Double-entry bookkeeping is an accounting method that records financial transactions based on the concept that every transaction has equal and opposite effects on both sides of the equation - in terms of debits and credits. Example: The company's financial accuracy significantly improved after implementing double-entry bookkeeping. Adjective: In double-entry bookkeeping, every transaction is recorded twice, once as a debit and once as a credit, to ensure accurate and balanced financial records. Example: The accountant's attention to detail while following the double-entry bookkeeping process helped maintain the company's financial stability. Related Products: Double-entry bookkeeping guide books, double-entry bookkeeping software, accounting textbooks | ||||
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