EXPIRED EXPENSE Definition

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EXPIRED EXPENSE is an expense having come to an end or become void after passage of a period of time.

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CONTRACT ALLOWANCE is the limit set within an agreement as to what is the maximum allowed of any given item covered under contract, e.g., home construction with a builder may have allowances or "limits" set in your contract that tell you how much the price of your house "allows" for things such as floor coverings, countertops, and cabinets.

REALIZABLE VALUE is the expected proceeds from converting assets into cash.

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