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| er·ror ac·count (plural er·ror ac·counts) |
noun |
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| Definition: |
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1. holding place for trading errors: an accounting convention for a stock market purchase or sale that was made in error. Companies either take immediate action to correct the error, or keep the position in the account to be rectified later.
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2. finance account for compensation: an account where amounts are deposited to compensate for trades made in error
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