CARTAGE/CARRIAGE INWARDS Definition

CARTAGE/CARRIAGE INWARDS occurs when a business has to pay for purchased goods to be delivered to its premises.

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13TH PERIOD in the fiscal year is the period used for fiscal year-end adjusting entries (periods 1-12 being the months in the fiscal year).

DEPRECIATION RECAPTURE is a provision contained in the Internal Revenue Code that makes excess depreciation taken on real property subject to income tax upon the sale or disposition of the property.

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