ACCOUNTING INCOME Definition

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ACCOUNTING INCOME is the income derived through historical accrual based accounting. Income = the change in net assets occurring during the period excluding transactions with owners; i.e. transaction based.

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MEMORANDUM ACCOUNT see SPECIAL MEMORANDUM ACCOUNT.

COMMERCIAL ATTACHE is a business and trade expert on the staff of a consulate or embassy. They are responsible for promoting exports of their countrys goods and are an excellent source of help.

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