On Account
What does 'On Account' mean
On account is an accounting term that denotes partial payment of an amount owed or the purchase/sale of merchandise or a service on credit. For example, if a firm purchases $5,000 worth of merchandise on account, this refers to the purchase of the goods on credit and a deferral of payment.
Explaining 'On Account'
Most lenders will accept payments on account. All installment payments of any kind, including mortgage payments, could be considered payments on account. Any purchases with credit can be referred to as purchases on account.
Further Reading
An empirical comparison of published replication research in accounting, economics, finance, management, and marketing
www.sciencedirect.com [PDF]
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www.sciencedirect.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …
www.osti.gov [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …
onlinelibrary.wiley.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …
papers.ssrn.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …
www.sciencedirect.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …
onlinelibrary.wiley.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …
ideas.repec.org [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …
www.tandfonline.com [PDF]
… The beauty of the Dirichlet model lies in its ability to par- simoniously account for several empirical patterns of buyer be … one hand, it could be argued that disciplines that have developed reasonably strong theoretical bases (for exam- ple, economics and finance) will publish …
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Q&A About On Account
What does the term on account mean?
On account means partial payment of an amount owed or purchase-sale of merchandise or a service on credit.
What is the difference between a purchase and a sale?
A purchase is the acquisition of goods, services, or other items by paying cash. A sale is when you sell something to someone for cash.
What are some examples of purchases on account?
Purchases made with credit cards are purchases on account.
Are payments considered as purchases if they are made with debit cards instead of credit cards?
Payments made with debit cards are not considered as purchases because they do not involve any type of financing arrangement. They can be considered as payments on account if they involve deferred payment arrangements.