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Assets are all things that a company or a person owns.

Autonomous branches are also known as independent branches to reflect their design
and functional behaviour. Compared to non–autonomous branches, they are more
independent at least within the broad policies framed by the head office. For example,
they may be allowed to purchase goods from the local markets and maintain their own
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set of books. An autonomous branch can either be a home or a foreign branch.
Bad debts refer to debts/loans/outstanding balances owed that are no longer deemed
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recoverable and must be written off. Bad debts are treated as part and parcel of operating
expenses or losses for the business.
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Branch accounting is the system of bookkeeping under which the company maintains
separate accounts for each of its branches to increase transparency as well as knowledge
of the company’s cash flow position and financial position.

Business transaction refers to an economic event, which involves the exchange of goods
or services from one person to another with money or money equivalent.
Capital a large sum of money which is used to start a business, or which is invested to
make more money.

Cash discount refers to an incentive that a seller offers to a buyer in return for paying
a bill before the scheduled due date. The seller will usually reduce the amount that the
buyer owes by either a small percentage or an agreed monetary figure.

Clerical errors in accounting these arise from wrong transaction posting due to copying
or writing mistakes. Clerical errors are those errors that are generally committed by the
clerical staff in recording transactions either in the books of prime entry or in the ledger
accounts (books of final entry).
Creditors a person or commercial enterprise to whom money is owed. In the statement
of financial position, they sometimes feature as accounts payable.

Cumulative dividend (Cum div) is an investment term when a buyer of a security is
entitled to receive the next dividend scheduled for distribution. Therefore, the price
of the security will be set relatively higher since the value of the pending dividend is
included in the sale price of a security.

Debentures a medium to long-term security yielding a fixed rate of interest, issued
by a company to raise capital from the public.

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