CLASSIFICATION Definition

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CLASSIFICATION, generally, is the act of distributing things into classes or categories of the same type. In accounting, there are many ways to classify information, e.g. assets, liabilities or equity and the many subsets to those three classifications.

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LIFTING & OPERATING EXPENSE (LOE), in the oil/energy industry, within any accounting period, it is all cash costs incurred in connection with the running and maintenance of production wells.

GILT is a bond issued by the UK government. Gilts are equivalent to a U.S. Treasury security.

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