COST OF CONTROL Definition

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COST OF CONTROL (COC) is the amount paid by a holding company, sometimes at a premium, for shares in its subsidiary company over and above the value they would command as an investment, in recognition of the particular benefit, which the company gains through control.

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INTERNAL REVENUE, if governmental, is money collected by a government through taxes and levies on facilities, income, sales of goods and services, transfers of property, and other specified domestic transactions.

PURCHASE ACCOUNT is an account in which all inventory purchases are recorded; used with the periodic inventory method.

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