Balance
/ˈbaləns/
Definitions
- (n.) The amount of money held in an account or owed after all credits and debits are accounted for.
The account balance was sufficient to cover the payment.
- (n.) The difference between credits and debits in bookkeeping or financial statements.
The ledger showed a positive balance at the end of the fiscal year.
Forms
- balances
- balancing
- balanced
See also
Commentary
In legal and financial documents, ensure 'balance' clearly indicates whether it refers to a monetary amount or an abstract state to prevent ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.