CAPITAL BUDGET Definition

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CAPITAL BUDGET is the estimated amount planned to be expended for capital items in a given fiscal period. Capital items are fixed assets such as facilities and equipment, the cost of which is normally written off over a number of fiscal periods. The capital budget, however, is limited to the expenditures that will be made within the fiscal year comparable to the related operating budgets.

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ARTICLES OF INCORPORATION is the primary legal document of a corporation; they serve as a corporations constitution. The articles are filed with the state government to begin corporate existence. The articles contain basic information on the corporation as required by state law.

VAT see VALUE ADDED TAX.

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