CONSTRUCTION IN PROGRESS Definition

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CONSTRUCTION IN PROGRESS is capital assets under construction or development that have not yet been placed into service, such as a building or parking lot. Capital assets are not subject to depreciation while in a construction in progress status.

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TREASURY is, dependent upon usage, a. the funds of a government or institution or individual; b. the government department responsible for collecting and managing and spending public revenues; or, c. a depository (a room or building) where wealth and precious objects can be kept safely.

TENDER is to offer a product for sale at a specified price. A tender is issued usually in response to a specific request from a potential purchaser, e.g. government procurement.

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