AXIOM Definition

AXIOM, generally, it is a saying that is widely accepted on its own merits; in logic, it is a proposition that is not susceptible of proof or disproof; its truth is assumed to be self-evident.

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BILLINGS IN EXCESS OF COSTS see COST IN EXCESS OF BILLINGS.

PRE-OPERATING COSTS are costs that are deferred until the related assets are ready for revenue service at which time the costs are charged to operations.

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