Taccount :

An accounting device used to analyze transactions

Taking an inventory :

See Periodic inventory

Tax base :

The maximum amount of earnings on which a tax is calculated

Temporary accounts :

Accounts used to accumulate information until it is transferred to the owner’s capital account

Term bonds :

Bonds that all mature on the same date

Terms of sale :

An agreement between a buyer and a seller about payment for merchandise

Time draft :

A draft that is payable at a fixed or determinable future time after it is accepted

Time of a note :

The days, months, or years from the date of signing until a note is to be paid

Total costs :

All costs for a specific period of time

Total earnings :

The total pay due for a pay period before deductions

Trade acceptance :

A form signed by a buyer at the time of a sale of merchandise in which the buyer promises to pay the seller a specified sum of money, usually at a stated time in the future

Trade discount :

A reduction in the list price granted to customers

Treasury stock :

A corporation’s own stock that has been issued and reacquired

Trend analysis :

A comparison of the relationship between one item on a financial statement and the same item on a previous fiscal period’s financial statement

Trustee :

A person or institution, usually a bank, who is given legal authorization to administer property for the benefit of property owners

Trail balance :

A list of all businesses accounts balances which should net to zero.

Transaction :

A event involving some value between two or more entities. It can be purchase of goods, receipt of money, payment to a creditor etc. it can be cash transaction or credit transaction