ACTUAL CASH VALUE Definition

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ACTUAL CASH VALUE (ACV) is the common method of determining the amount of reimbursement for a loss. Normally calculated by determining what it will cost to replace an item at the time of loss after subtracting depreciation.

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APPLICATION CONTROL is the programmed procedure in application software designed to ensure completeness and accuracy of information.

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

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