ACCOUNT

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Definitions

simply a sheet of paper (or page of a book) headed at the top as to the category of inflow or outflow of the organization or else the name of the outside person with whom the organization deals. It is divided by a line down the middle to give a left-hand side and right-hand side. The lefthand side of an account is the receiving or inflow side and the right-hand side is the outflow side. (BPL 14 Nov 70 II)