ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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ACTUAL COST Definition
ACTUAL COST is the amount paid for an asset; not its retail value, market value or insurance value.
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FIXED COST is a cost that does not vary depending on production or sales levels, such as rent, property tax, insurance, or interest expense.
AS-IS CONDITION is the transfer of title to a property in an existing condition with no warranties or representations.