NOMINAL ACCOUNTS are those accounts that are closed out each period: revenue accounts, expense accounts, and dividend or withdrawals accounts.
CONTINGENT ASSET is a possible asset from past events whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the enterprise.
UNIT-LEVEL ACTIVITY, in Activity Based Costing, is an activity that must be done for each unit of production.
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