Translation and analysis of words by ChatGPT artificial intelligence
On this page you can get a detailed analysis of a word or phrase, produced by the best artificial intelligence technology to date:
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advance in price - translation to English
строительное дело
ценник
![](https://commons.wikimedia.org/wiki/Special:FilePath/"Prices charged in this store will not exceed those indicated in the most recent list of Fair Prices applicable to this - NARA - 512556.jpg?width=200)
![World War II poster about US price controls](https://commons.wikimedia.org/wiki/Special:FilePath/"Cost of Living 1918-1944" - NARA - 514088.jpg?width=200 "World War II poster about US price controls")
![Protesters call for an increased legal [[minimum wage]] as part of the "Fight for $15" effort to require a $15 per hour minimum wage in 2015. A government-set minimum wage is a price floor on the price of labour.](https://commons.wikimedia.org/wiki/Special:FilePath/Fight for $15 on 4-15 (17161520871).jpg?width=200 "Protesters call for an increased legal [[minimum wage]] as part of the \"Fight for $15\" effort to require a $15 per hour minimum wage in 2015. A government-set minimum wage is a price floor on the price of labour.")
Definition
Wikipedia
An advance payment, or simply an advance, is the part of a contractually due sum that is paid or received in advance for goods or services, while the balance included in the invoice will only follow the delivery. Advance payments are recorded as a prepaid expense in accrual accounting for the entity issuing the advance. Advanced payments are recorded as assets on the balance sheet. As these assets are used they are expended and recorded on the income statement for the period in which they are incurred. Insurance is a common prepaid asset, which will only be a prepaid asset because it is a proactive measure to protect business from unforeseen events.
