CAPITALIZED COSTS Definition

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CAPITALIZED COSTS are business expenses that are written off or deducted over a period of time through depreciation or amortization schedules.

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FISCAL POLICY is U.S. Federal policy with respect to spending and taxation as determined by the Congress and the Administration.

CREDITORS CONTROL ACCOUNT reflects the total amount owed to all the individual creditors. The balance of the creditors control account must equal the total of the creditors list, which represents the amounts owed by the individual creditors obtained from the individual balances in the various subsidiary ledger accounts for each creditor. This subsidiary ledger is known as the creditors ledger.

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