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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L as the fifth letter of a Nasdaq stock symbol indicates that the issue is a class of stock such as: preferred when issued, third preferred class of warrants, sixth class of preferred stock, or foreign preferred.

INSPECT / INSPECTION, during an audit, is to scrutinize or critically examine a document. As part of a CPA firm's quality control system, a procedure to monitor the effectiveness of the system.

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