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Accounting Terminology - Coggle Diagram
Accounting Terminology
Transaction
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Credit transaction
will not have ‘cash’ either received or paid, but gives rise to receivables and payables relationship.
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Sales
the sale of those goods in which business normally deals
and which were bought with the prime intention of resale.
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Inventory / Stock
The goods purchased are for selling, if the goods are not sold out fully, a part of the total goods purchased is kept with the business until it is sold out
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Cash Discount
a deduction allowed by the business in order to motivate the customer to pay within a specified time.
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