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Meaning of ALLOWANCE ACCOUNT
Pronunciation:
u'lawuns u'kawnt
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Definition:
[n]
a
reserve
fund
created
by
a
charge
against
profits
in
order
to
provide
for
changes
in
the
value
of
a
company
'
s
assets
Synonyms:
allowance
,
valuation account
,
valuation reserve
See Also:
reserve account
,
reserve fund
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