allowance account (Meaning)
Wordnet
allowance account (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 & Antonyms of allowance account
No Synonyms and anytonyms found
allowance account Sentence Examples
- In personal finance, it's essential to create an allowance account to manage discretionary spending.
- The company set up a separate allowance account to track potential losses from unpaid invoices.
- Parents often establish an allowance account for their children, depositing a fixed amount regularly.
- The accountant reconciled the allowance account to ensure accuracy in financial records.
- A prudent financial strategy involves regularly reviewing and adjusting the allowance account.
- The budget committee discussed allocating a specific amount to the allowance account for miscellaneous expenses.
- The auditors closely examined the allowance account to assess the adequacy of reserves for potential bad debts.
- Non-profit organizations may maintain an allowance account to cover unexpected expenses in their operations.
- The finance team carefully monitored the allowance account to identify areas for cost-saving measures.
- For tax purposes, individuals may keep an allowance account to track deductible expenses throughout the year.
FAQs About the word allowance account
a reserve fund created by a charge against profits in order to provide for changes in the value of a company's assets
No synonyms found.
No antonyms found.
In personal finance, it's essential to create an allowance account to manage discretionary spending.
The company set up a separate allowance account to track potential losses from unpaid invoices.
Parents often establish an allowance account for their children, depositing a fixed amount regularly.
The accountant reconciled the allowance account to ensure accuracy in financial records.
