BILLINGS IN EXCESS OF COSTS Definition

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

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APPRECIATION is the increase in the value of an asset in excess of its depreciable cost, which is due to economic, and other conditions, as distinguished from increases in value due to improvements or additions made to it.

ECONOMICALLY FEASIBLE means that the benefit of tracing the cost (greater accuracy) outweighs the cost of doing so.

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