BOOKKEEPING 2 Definition

BOOKKEEPING is the art, practice, or labor involved in the systematic recording of the transactions affecting a business.

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SIGNIFICANCE is a meaning that is not expressly stated but can be inferred, e.g. the significance of an increase in product demand can only be known after the financial effects are calculated.

GOODWILL / INTANGIBLES is the total value of all intangible assets, e.g. goodwill, patents, copyrights, etc.

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