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Simple English definitions for legal terms

double-entry bookkeeping

Read a random definition: malicious motive

A quick definition of double-entry bookkeeping:

Double-entry bookkeeping is a way of keeping track of money that a business earns and spends. Every time a business does something with money, like buying something or getting paid, it is recorded in two places: one as a "debit" and one as a "credit". The amount of money recorded as a debit must always be the same as the amount recorded as a credit. This helps businesses keep track of their money accurately.

A more thorough explanation:

Definition: Double-entry bookkeeping is a method of recording financial transactions in which every transaction involves at least one "debit" entry and one "credit" entry. The total amount of debits must always equal the total amount of credits.

Example: Let's say a business buys $500 worth of inventory. In double-entry bookkeeping, this transaction would involve a debit of $500 to the inventory account and a credit of $500 to the cash account. This ensures that the total amount of debits and credits in the business's records always balance.

This method of bookkeeping is important because it helps ensure accuracy and completeness in financial records. By requiring every transaction to have both a debit and a credit entry, it helps prevent errors and fraud. It also makes it easier to track the flow of money in and out of a business, which is essential for making informed financial decisions.

double-dipping | double forgery

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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