ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BOOKS OF ACCOUNT Definition
BOOKS OF ACCOUNT are the financial records of a business. Usually refers to the lowest level of recorded data, before summaries are made.
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EXTINGUISHMENT OF DEBT is the debtors satisfaction of the obligation to a creditor, either legally or in-substance. A debt shall be accounted for as having been extinguished in a number of circumstances, including when it has been settled through repayment or replacement by another liability.
APPLICATION RATE is the quantity (mass, volume or thickness) of material applied per unit area.