Organization's average payable period that measures the length of time it takes for a company to pay its invoices from suppliers and other trade creditors.

An accounting entry where there is either an increase in assets or a decrease in liabilities on a company's balance sheet.

Authority obtained from another that has authority since the authority does not naturally exist. In an organizational process - the manager divides his work among the subordinates and give them the responsibility to accomplish the respective tasks.

The decrease in an asset's value over time

An initial up-front payment made when something is bought