ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BASIC TENETS OF ACCOUNTING Definition
BASIC TENETS OF ACCOUNTING is four in number: 1. Assets = Liabilities + Owners Equity, 2. Debits = Credits, 3. Assets are on the left (debit side), and, 4. Liabilities and Equity are on the right (credit side).
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IN-KIND is the value of goods or services provided for which money would have otherwise been paid.
REPRODUCTION COST NEW is the current cost of an identical new property.