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Business Dictionary :

Balance, Credit balance, Debit balance,
Bank Balance, Balance Sheet



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Balance : noun :

(a) amount in an account which makes the total debits and credits equal


Credit balance : balance in an account showing that more money has been received than is owed


Debit balance : balance in an account showing that more money is owed than has been received


• The account has a credit balance of £ 100.


• Because of large payments to suppliers, the account has a debit balance of £1,000.



Balance In Hand : cash held to pay small debts


Balance brought down : amount entered in an account at the end of a period to balance income and expenditure


Balance brought forward (or) balance carried forward : amount entered in an account at the end of a period to balance the expenditure and income which is then taken forward to start the new period


Balance carried forward (or) Balance brought forward : amount entered in an account at the end of a period to balance the expenditure and income which is then taken forward to start the new period


(b) Rest of an amount owed


• You can pay £100 deposit and the balance within 60 days.



Balance due to us : amount owed to us which is due to be paid


Balance of payments : the international financial position of a country including invisible as well as visible trade


Balance of trade or trade balance : international trading position of a country excluding invisible trade


Adverse or unfavourable balance of trade : situation where a country imports more than it exports


Favourable trade balance : situation where a country exports more than it imports


• The country has had an adverse balance of trade for the second month running.



Bank Balance : state of an account at a bank at a particular time


NOTE : no plural


Balance : verb


(a) To calculate the amount needed to make the two sides of an account equal


• I have finished balancing the accounts for March.


• The February accounts do not balance.


• The two sides are not equal.



(b) To plan a budget so that expenditure and income are equal


• The president is planning for a balanced budget.



Balance Sheet : noun : statement of the financial position of a company at a particular time, such as the end of the financial year or the end of a quarter


• The company balance sheet for 1984 shows a substantial loss.


• The accountant has prepared the balance sheet for the first half year.

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