BANK BALANCE Definition

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BANK BALANCE is the amount of money in a bank account on a particular date as recorded by a financial institution on a bank statement.

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COST UNIT is a functional cost unit which establishes standard cost per workload element of activity, based on calculated activity ratios converted to cost ratios.

ORDER OF PERMANENCE is where fixed assets are entered in the balance sheet in descending order of permanence (i.e. land first, then buildings, then equipment ...).

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