DIRECT WRITE-OFF METHOD Definition

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DIRECT WRITE-OFF METHOD is a method of accounting for bad debts that records the loss from an uncollectible account receivable at the time it is determined to be uncollectible; no attempt is made to estimate uncollectible accounts or bad debt expense.

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ACTUAL COST is the amount paid for an asset; not its retail value, market value or insurance value.

LEU (LEI) is a currency of Moldova and Romania.

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