ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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CONSTANT DOLLAR Definition
CONSTANT DOLLAR is when the dollar amount is adjusted for inflation.
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SOLE PROPRIETOR is an individual who owns a business as opposed to stock in a corporation. A sole proprietor pays no corporate income tax but has unlimited liability for his/her business debts and obligations. See SOLE PROPRIERTORSHIP.
PRIME COST is equal to the sum of DIRECT MATERIAL plus DIRECT LABOR.