Definition of Allowance account

1. Noun. A reserve fund created by a charge against profits in order to provide for changes in the value of a company's assets.


Lexicographical Neighbors of Allowance Account

allover
allovers
allow
allow'd
allow for
allow in
allow nature to take her course
allow nature to take its course
allowabilities
allowability
allowable
allowableness
allowables
allowably
allowance account (current term)
allowanced
allowances
allowancing
allowaunce
allowed
allowedly
allower
allowers
alloweth
allowin'
allowing
allowing of(p)
allows
alloxan

Literary usage of Allowance account

Below you will find example usage of this term as found in modern and/or classical literature:

1. A First Year in Bookkeeping and Accounting by George Arthur MacFarland, Irving David Rossheim (1913)
"When an allowance is made to a customer on some particular sale, an entry is made inthe Journal debiting "Allowance" Account and crediting the customer. ..."

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