ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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BUILDING SOCIETY Definition
BUILDING SOCIETY, similar to a Savings and Loan in the U.S., is a UK savings institution that specializes in loans for house purchase. Their members own building societies.
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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.
ECONOMIC RESOURCES is the profitable extraction or production, under defined investment assumptions, of returns that are analytically demonstrable or can be assumed with reasonable certainty.