account Wiktionary, the free dictionary

2025-06-10 Bookkeeping

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Today, people open transaction (checking), savings, and other bank accounts in order to more securely manage liquid assets, as assets held in accounts with a financial institution are less vulnerable to theft than cash and are insured by the Federal Deposit the holiday season Insurance Corporation (FDIC) in the United States up to $250,000. Bank accounts allow holders to write checks or use debit or ATM cards to make purchases and cash withdrawals against the balance in the account. A customer looking for the flexibility of depositing cash and making purchases and payments for goods and services will open up a checking account at a financial institution. This checking account has many advantages compared to holding money in her possession, including higher security, electronic access to funds, bill payment options, and much more. Many people also use credit accounts to borrow money for major and minor purchases.

Word of the Day

Accounts were first created so that people could borrow to travel to the Holy Land and hold and amass wealth that was often stolen during the Crusades. From Middle English acounte, from Anglo-Norman acunte (“account”), from Old French aconte, from aconter (“to reckon”), from Latin computō (“to sum up”). Finally, “account” can also refer to a brokerage account, which holds customer assets at a licensed brokerage firm. In this type of account, an investor deposits money or other assets and the broker places trades on behalf of the client. “Account” can also refer to a statement summarizing the record of transactions in the form of credits, debits, accruals, and adjustments that have occurred and have an effect on an asset, equity, liability, or past, present, or future revenue.

English

Taking account of this, the Resolution Foundation think tank has estimated that the net effect of the government’s reforms would mean “at least 300,000” people entering relative poverty by 2030. He said it was right that councillors themselves were held to account, but claimed that a school attended by the children of Majid Mahmood had been “targeted” by the union.

• This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.
• Common credit accounts include revolving credit accounts, like credit cards and lines of credit, and installment loan accounts like car loans or mortgages.
• Many people also use credit accounts to borrow money for major and minor purchases.
• In this type of account, an investor deposits money or other assets and the broker places trades on behalf of the client.

Account Statements

• Finally, “account” can also refer to a brokerage account, which holds customer assets at a licensed brokerage firm.
• Until now, China is still achieving its official growth target of around 5%, and economists say the country could account for almost 30% of global growth this year.
• The Knights Templar were the first to hold assets on behalf of others and make loans on those assets.
• This checking account has many advantages compared to holding money in her possession, including higher security, electronic access to funds, bill payment options, and much more.

Common credit accounts include revolving credit accounts, like credit cards and lines of credit, and installment loan accounts like car loans or mortgages. Financial institutions charge account holders interest for the privilege of borrowing money in this manner. The term account generally refers to a record-keeping or ledger activity. In banking, an account refers to an arrangement by which an organization, typically a financial institution such as a bank or credit union, accepts a customer’s financial assets and holds them on behalf of the customer at his or her discretion. The Knights Templar were the first to hold assets on behalf of others and make loans on those assets. As such, the Knights Templar are sometimes credited with creating the foundations of today’s banking system.

Generally, an account is a record, history, or report of something. Until now, China is still achieving its official growth target of around 5%, and economists say the country could account for almost 30% of global growth this year. “It is deeply troubling that such graphic and one-sided accounts are being publicised before any judicial assessment has taken place.”