COST-OF-LIVING LEASE Definition

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COST-OF-LIVING LEASE is a lease where yearly increases are tied to the cost of living index.

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LIMIT TEST is a computer program step that compares data with predetermined limits as a reasonableness test, e.g. number of hours worked over 40 per week.

LONG-TERM RECEIVABLE, in accounting, is any receivable that is scheduled or projected for receipt in greater than a 12-month period, e.g. notes receivable or a receivable in litigation.

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