Dictionary of Business Terms

=A=

Account: 1 To record financial transactions. 2 A statement showing amounts due from one party to another. 3 (On the Stock Exchange) the period between one settlement date and the next. 4 A customer or client. 5 An area of business assigned to an advertising agency by a customer.

Advance: 1 A sum of money lent in the form of a bank overdraft or simply a loan. 2 A part-payment for goods or services before the formal commencement or completion of the terms of a contract. 3 A part-payment to the supplier of goods upon receipt of the invoice or bill of lading, possibly before receipt of the goods.

Artisan: 1 One skilled in an industrial art; a craftsman or mechanic.