ACCRUAL Definition

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ACCRUAL is the recognition of revenue when earned or expenses when incurred regardless of when cash is received or disbursed.

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FOB DESTINATION is where the seller retains title and control of goods until they are delivered and the contract of carriage has been completed. The seller selects the carrier and is responsible for the risk of transportation.

SLIDE ERROR is the incorrect placement of the decimal point, e.g. $2545.00 is recorded as $25.45.

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