Prepayment: Difference between revisions
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imported>Doug Williamson (Create the page. Sources: linked pages.) |
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Revision as of 20:15, 30 October 2016
1. Banking.
The non-contractual early repayment by bank customers of, for example, fixed rate mortgages.
2. Accounting.
An amount paid in advance for a financial benefit, represented by an asset in the organisation's balance sheet.
