ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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INDIFFERENCE CURVE Definition
INDIFFERENCE CURVE, in microeconomics, an indifference curve is a graph showing combinations of two goods to which an economic agent (such as a consumer or firm) is indifferent, that is, it has no preference for one combination over the other.
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EFFECTIVENESS is producing a desired outcome. An audit procedure is effective if the evidence supports a correct conclusion.
CONTRA REVENUE ACCOUNT is an account that is offset against a revenue account on the income statement.