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Difference between balance and cost



 
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Difference between balance and cost #1 (permalink) Tue Feb 01, 2005 6:41 am   Difference between balance and cost
 

Test No. incompl/advan-11 "Finance", question 9

There is still an outstanding ......... on that account, which must be paid in 30 days.

(a) balance
(b) scale
(c) difference
(d) cost

Test No. incompl/advan-11 "Finance", answer 9

There is still an outstanding balance on that account, which must be paid in 30 days.

Correct answer: (a) balance

Your answer was: incorrect
There is still an outstanding cost on that account, which must be paid in 30 days.
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Outstanding balance that must be paid?
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Balance #2 (permalink) Tue Feb 01, 2005 10:00 am   Balance
 

Balance here is the sum of money which is the difference between what you have paid and what you still owe.
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Difference between balance and cost #3 (permalink) Mon Mar 25, 2013 10:44 am   Difference between balance and cost
 

Balance means here the balance account. The balance account shows in the accounting:
a. Equality of totals in the debit and credit sides of an account.
b. The difference between such totals, either on the credit or the debit side.
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