ACCRUED INCOME Definition

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ACCRUED INCOME is income earned during a fiscal period but not paid by the end of the period.

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MARGINAL PROFIT is the change in the total profit that results from the sale of an additional unit.

PBC LIST (PROVIDED BY CLIENT LIST) is a request by external auditors of items that will be required from the client by the auditor prior to the commencement of fieldwork. Such PBC lists are preliminary and will likely be expanded once the audit commences.

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