ASSIGNED VALUE Definition

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ASSIGNED VALUE is a value that serves as an agreed-upon reference for comparison; normally derived from or based upon experimental work of some national or international organization.

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PROFIT & LOSS ACCOUNT shows the net profit which is left after all relevant business expenses have been deducted.

BALANCING OFF THE BOOKS means totaling off the various amounts to find out how much money is left or, how overdrawn the organization is. At certain times; e.g. once a month, quarterly, for management committee meetings; it may be necessary to balance off the books".

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