ACTUAL COST Definition

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ACTUAL COST is the amount paid for an asset; not its retail value, market value or insurance value.

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MARK is a currency of Bosnia & Herzegovina, Germany, Saar, and Memel.

NEGATIVE ASSURANCE, in accounting, is a statement of what the CPA does not know as opposed to what the CPA believes (positive assurance). A statement that the CPA was "not aware of material modifications that should be made to financial statements for them to conform with U.S. generally accepted accounting principles" is negative assurance used in review reports.

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