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Category: Financial Accounting

link to What is Net Realizable Value (NRV)?

What is Net Realizable Value (NRV)?

Net Realizable Value (NRV) is the estimated value of an asset or item after subtracting the costs needed to make it ready for sale. It is commonly used for valuing inventory or accounts...

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link to What is the Difference Between Common Stock and Preferred Stock?

What is the Difference Between Common Stock and Preferred Stock?

When it comes to raising capital for a business, companies can issue different types of securities to investors. Two common types of securities are common stock and preferred stock. While both types...

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link to What is Net Worth?

What is Net Worth?

Net worth refers to the total value of an individual's assets, including cash, investments, real estate, and any other possessions, minus any debts or liabilities that they owe. It is essentially a...

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link to What is Section 179 Depreciation Deduction?

What is Section 179 Depreciation Deduction?

When it comes to running a business, every penny counts. One way to save money on your taxes is through the section 179 depreciation deduction. This deduction allows businesses to deduct the full...

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link to What is Tangible Property?

What is Tangible Property?

Tangible property refers to physical assets that can be touched and seen, such as land, buildings, machinery, vehicles, and equipment. In business and taxation, tangible property is an essential...

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link to What is IFRS: International Financial Reporting Standards

What is IFRS: International Financial Reporting Standards

International Financial Reporting Standards (IFRS) is a set of accounting standards developed by the International Accounting Standards Board (IASB) to provide a globally recognized framework for...

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