line-item

Vocabulary Word

Definition

'Line-item' is a single entry in a document that shows what you bought or plan to buy. It could be a part of an invoice, budget, or checklist.

Examples in Different Contexts

In accounting, a 'line-item' refers to a specific entry in a budget or financial statement that represents an expense or income. An accountant might detail, 'Each line-item in our budget is categorized to track our operating expenses accurately.'

Practice Scenarios

Business

Scenario:

Given our tight budget, we have to be mindful of our spending. Can you give a breakdown of the costs from the last quarter?

Response:

Here's a line-item view of last quarter's expenditures. The largest contributor was marketing expenses.

Accounting

Scenario:

Let's review the finances. What were the most significant costs that affected our profits last year?

Response:

Analyzing our line-item expenses, raw materials and overhead expenses had a significant impact on last year's profits.