Trial Balance
A trial balance is a report that lists all general ledger account balances at a specific date, separated into debits and credits. Its purpose is to verify that total debits equal total credits, ensuring the books are arithmetically accurate before preparing financial statements.
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Treasury Stock
Treasury stock refers to a company’s own shares that were issued and later repurchased from shareholders. These shares are held…
Turnover
Turnover refers to the total revenue generated by a business during a given period. In some regions, it’s used interchangeably…
Temporary Account
Temporary accounts track financial activity for a specific period and are closed at period-end. Examples include revenue, expense, and dividend…
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