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(also called diminishing balance method) a method of calculating depreciation where the accumulated depreciation is taken into account; depreciation calculated on the carrying value of an asset.
nominal account used in the General Ledger of companies, close corporations and partnerships to...
the minimum number of units that must be produced before a profit is made
the relative value of a transaction. Auditors decide on a certain amount for transactions for an...
(also called indigenous bookkeeping) a casual operation where few records are kept of income,...