→ D1M 14.01.2025 CLOSING PILOT Definitions → Start Learning / Download MP3 Flashcards

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Question		Answer
Write-off of doubtful receivables start learning		A financial adjustment to remove debts unlikely to be paid.
Reconciliation start learning		The process of comparing financial records to ensure they match and are accurate.
Inventory and merchandise start learning		Goods available for sale or materials held in stock by a company.
Severance pay start learning		Payments made to employees who are laid off or dismissed.
Outstanding invoices start learning		Bills that have not yet been paid by customers.
Pension provisions start learning		Payments set aside for future retirement benefits for employees.
Contingency budget start learning		Funds reserved for unexpected costs or emergencies in a budget.
Carryforward start learning		Transferring a financial amount to a future period.
Cumulative costs start learning		The total amount of expenses that build up over time in a project or process.

D1M 14.01.2025 CLOSING PILOT definitions