ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PERPETUAL INVENTORY Definition
PERPETUAL INVENTORY is an inventory accounting system whereby book inventory is kept in continuous agreement with stock on hand. A daily record is maintained of the dollar amount and physical quantity. There are periodic physical inventories taken to reconcile at short intervals.
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PINK PEARL is a type of a pencil-lead eraser that auditing companies use.
SPENDING LEVEL is the true expenditure or cash outlay of any entity in a given category or budgetary area.