Definition of Balance in Business | Account Balance

Accounting Definitions

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Balance Definition

Definitions
1. (n) The actual amount of money in an account, such as a bank account or a credit card account.

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2. (n) The remainder due on an account, such as a balance due on a bill.

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3. (v) The act of comparing debits to credits to make sure they are equal, such as balancing a checking account against an account statement.

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