Glossary

A glossary is a dictionary of terms specific to a certain subject. A biology textbook might have a glossary in the back, so you can quickly look up all those technical words.

Accrued Income

Updated on 2023-08-29T11:54:11.798300Z

An already earned income which is yet to be received. The income is recorded in the books at the time of incurrence but is received later on. Income from rent or from providing services generally falls into this category as the payment is completed once the service has been fulfilled.