Bank Statement
Bank statement is a document issued by a bank summarizing all transactions in a specific account over a set period. It includes deposits, withdrawals, charges, and ending balances. Businesses use it to verify recorded transactions and support bank reconciliation processes for accurate financial records.
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Break Even Point
The level of sales at which total revenue equals total costs, meaning the business makes no profit but also no…
Book Value
The net value of an asset or business recorded on the books, calculated as the original cost minus depreciation or…
Bookkeeping
The daily recording and organizing of all financial transactions, sales, purchases, receipts, and payments. It’s the foundation of accounting, keeping…
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