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English definition of “cash account”

cash account

noun [C]
 
 
BANKING, FINANCE an account that a customer has in which the whole amount owed for items bought must be paid for immediately: With a cash account you are required to pay in full for the purchase of securities on or before the settlement date.
ACCOUNTING the part of a set of accounts in which money received or spent in cash is recorded: He asked to examine the cash accounts.
BANKING a current account: The rules for opening a cash account are simple.
(Definition of cash account from the Cambridge Business English Dictionary © Cambridge University Press)
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