DISCOUNT FOR LACK OF CONTROL Definition

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DISCOUNT FOR THE LACK OF CONTROL is an amount or percentage deducted from the pro rata share of value of one hundred percent (100%) of an equity interest in a business to reflect the absence of some or all of the powers of control.

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COST OF REVENUE see COST OF GOODS SOLD.

SPECIFIC IDENTIFICATION METHOD is an inventory costing method under which the actual cost of a particular item is assigned to that item; used for determining cost of goods sold.

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