ACCOUNTING PERIOD Definition

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ACCOUNTING PERIOD is the time period for which accounts are prepared, usually one year.

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ECONOMIC DEPRECIATION is the decline in real estate property value caused by external forces, such as neighborhood blight or adverse development.

DISSOLUTION is the act of ending, terminating or winding-up a company or state of affairs. For example, when the life of a company is ended by normal legal means, it is said to be "dissolved". The same is said of marriage or partnerships which, by dissolution, end the legal relationship between those persons formally joined by the marriage or partnership.

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