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Temporary Account |
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Temporary Account An account whose balance is quickly reduced to zero after its creation by a company. For example, a company may create a temporary account for dividends after they are announced but before they are distributed. After distribution, the temporary account goes to zero. A temporary account is also called a nominal account. 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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