ASSET STRIPPING Definition

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ASSET STRIPPING is buying a business and then realizing a profit by selling off the assets separately.

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DOUBTFUL DEBT is a debt where circumstances have rendered its ultimate recovery uncertain. Conservatism requires that doubtful debts should be treated in the same way as bad debts. They should thus be recorded as an expense in the profit and loss account and to be credited to a provision to set off against ultimate default if it occurs.

SPENDING LEVEL is the true expenditure or cash outlay of any entity in a given category or budgetary area.

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