BOOK COST Definition

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BOOK COST, normally, is the cost at the time an asset is purchased or realized, i.e. the total amount paid to acquire an asset.

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AUXILIARY JOURNAL is a journal in which accounting information is stored both before and after the transfer to the General Ledger.

CURRENCY SWAP is an exchange of two currencies accord­ing to an agreement to re-exchange the currencies at the same rate at a specified future date. During the term of the agreement, exchanges of interest payments denomi­nated in the respective currencies also may occur.

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