CONTINUOUS INVENTORY Definition

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CONTINUOUS INVENTORY see PERPETUAL INVENTORY.

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NON-EXPENDABLE PROPERTY is durable (e.g., equipment and furniture), lasting for a year or longer, and generally has a high dollar value. Non-expendable property must be accounted for throughout its useful life.

MUNICIPAL BOND is the general category of securities issued by public entities. Interest income received by investors is usually exempt from federal income taxes.

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