ADMITTED ASSETS Definition

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ADMITTED ASSETS are assets whose values are permitted by state law to be included in the annual statement.

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RESPONSIBILITY ACCOUNTING is the collection, summarization, and reporting of financial information about various decision centers throughout an organization; can also be called profitability accounting or activity accounting. It tracks costs, revenues, or profits to the individual managers who are responsible for making the decisions about costs, revenues, or profits and taking action about them.

BOOKING, in import / export, is an arrangement with a shipping company to load and carry a shipment.

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