ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BOOK VALUE OF EQUITY Definition
BOOK VALUE OF EQUITY is the difference between the book value of assets and the book value of liabilities.
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LIP ACCOUNT see LOAN-IN-PROCESS ACCOUNT.
FIFO (first-in, first-out) is an inventory cost flow whereby the first goods purchased are assumed to be the first goods sold so that the ending inventory consists of the most recently purchased goods.