In 1988 Toto released their next album The Seventh One, featuring Jon Anderson of Yes on backup vocals on the single  Stop Loving You . The album's other single,  Pamela , became very popular and would be the band's last to hit the US Top 40. The Seventh One became the band's most successful release since Toto IV.
DEFINITION of 'On Account'. An accounting term that denotes partial payment of an amount owed or the purchase/sale of merchandise or a service on credit.For example, if a firm purchases $5,000 worth of merchandise on account, this refers to the purchase of the goods on credit and a deferral of payment.Next Up.or example, if a firm purchases $5,000 worth of merchandise on account, this refers to the purchase of the goods on credit and a deferral of payment.
An account is the basic information storage unit in accounting. Changes in assets, liabilities and equity items are recorded chronologically in accounts. There are separate accounts for each asset, each liability and each equity item. Accounts have account title and a reference number unique to them. Account title describes the type of asset, liability or equity represented by that account. The T-Account is the most common type of accounts and it is easy to begin the study of accounting with T-Account. A T-Account resembles the English letter T. The word debit and credit simply mean left and right side respectively.