ITEMIZED BILL Meaning and
Definition
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An itemized bill is a detailed accounting document that provides a breakdown of all the individual charges and expenses incurred for a particular service or transaction. It is commonly used in various industries, such as telecommunications, healthcare, hospitality, and retail, to provide transparent and comprehensive information about the costs associated with a product or service.
The itemized bill typically lists each item, product, or service separately, along with its corresponding price or fee. It goes beyond just providing a total amount and delves into the specifics, allowing the recipient to see a clear picture of the various components that make up the overall cost. This detailed breakdown helps to ensure accuracy, transparency, and accountability in financial transactions.
The contents of an itemized bill may vary depending on the context, but it commonly includes information such as the date of the transaction, a description or name of the item or service, quantity, individual price, any applicable taxes or surcharges, discounts or promotions, and a subtotal for each item. These individual costs are then usually totaled, and additional charges such as taxes or fees are added to calculate the final amount due.
In addition to providing clarity in financial transactions, itemized bills can serve as a reference and a means of dispute resolution if there are any discrepancies or errors in the charges. By providing a comprehensive breakdown, an itemized bill empowers consumers or clients to accurately review and verify the charges against the agreed-upon terms or contract, and seek clarification or resolution if needed.
Common Misspellings for ITEMIZED BILL
- utemized bill
- jtemized bill
- ktemized bill
- otemized bill
- 9temized bill
- 8temized bill
- iremized bill
- ifemized bill
- igemized bill
- iyemized bill
- i6emized bill
- i5emized bill
- itwmized bill
- itsmized bill
- itdmized bill
- itrmized bill
- it4mized bill
- it3mized bill
- itenized bill
- itekized bill
Etymology of ITEMIZED BILL
The word "itemized" originates from the verb "itemize", which is derived from the noun "item". The noun "item" comes from Latin "item" meaning "likewise" or "also". It was used in medieval Latin as a noun meaning "likewise" or "also" to indicate a specific detail or entry. Over time, "item" became used as a verb, meaning "to specify each individual detail or entry separately". Hence, an "itemized bill" is a statement of charges or expenses that is broken down into separate items or individual entries, providing a detailed breakdown of the amounts owed for specific goods or services.
