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Balancing Item |
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Balancing Item In accounting, an entry making an adjustment in cases in which two figures do not agree. For example, if two estimates of the value of an asset arrive at two different amounts, an accountant may enter a balancing item for the difference between the two to determine which calculation is correct. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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