DEFERRED DEVELOPMENT COSTS Definition

DEFERRED DEVELOPMENT COSTS is the non-recognition of costs of development until such until some condition(s) is satisfied.

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CENTRAL BANK is the major regulatory bank in a country, usually government controlled. The UK central bank is the Bank of England; Germany's is the Bundesbank; in the U.S. it is the Federal Reserve System.

SUMMARY ACCOUNT is a ledger account (such as a control account) whose balance represents the total of other account balances.

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