DEPRECIATION REVERSAL Definition

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DEPRECIATION REVERSAL is the reversal of a depreciaton amount in the depreciation reserve account.

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CONTRA ENTRY, in accounting, is a ledger entry which is offset by an opposite entry, either a debit or credit.

SUFFICIENCY, in accounting, is a measure of the quantity of audit evidence. The independent auditor's objective is to obtain sufficient appropriate evidence to provide a reasonable basis for an opinion.

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