Deduction
Deduction is an amount subtracted from gross income or taxable income to reduce the tax owed. In payroll, deductions can also refer to amounts withheld for taxes, benefits, or retirement contributions. Deductions help lower a business’s or individual’s overall tax liability.
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Debentures
Debenture is a type of long-term debt instrument issued by companies to raise capital, typically backed by the issuer’s creditworthiness…
Draft
Draft is a written order from one party (drawer) to another (drawee) to pay a specific sum to a third…
Discount on Sales or Purchases
A reduction in the price of goods or services, either as a sales incentive (sales discount) or a reward for…
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