COST PRINCIPLE Definition

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COST PRINCIPLE is the principle where a company is obliged to record its fixed assets at their actual purchase price or production cost.

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OFF-FRONT PAYMENT see UP-FRONT PAYMENT.

FLOWER BOND is a U.S. Treasury bond, issued in the 1950s and 1960s, that may be tendered at par value for payment of federal estate taxes, even though its market price may be substantially less.

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