ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ACCOUNTING CONVENTION Definition
ACCOUNTING CONVENTION see CONVENTION.
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OPERATING INTEREST is the legal right to assets used to produce revenue, e.g., produce oil or gas from a well, accompanied by the responsibilities to pay production costs and assume the risks.
COST PRINCIPLE is the principle where a company is obliged to record its fixed assets at their actual purchase price or production cost.