ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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LCM RULE Definition
LCM RULE is an abbreviation for lower-of-cost-or-market rule. LCM requires that an asset be reported on the financial statements at the lower of purchase cost or market value.
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RECOGNIZE or RECOGNITION is the recording of a revenue or expense item in a given accounting period.
LEONE is a currency of Sierra Leone.