EX-WORKS Definition

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EX-WORKS see EX-FACTORY.

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ITEMIZED DEDUCTIONS is amounts paid by an individual taxpayer for personal and quasi-business expenses that can be deducted in computing taxable income, such as medical expenses, property and income taxes, mortgage and investment interest, charitable contributions, moving expenses, casualty and theft losses, and certain miscellaneous expenses. See STANDARD DEDUCTIONS.

ACCRUAL is the recognition of revenue when earned or expenses when incurred regardless of when cash is received or disbursed.

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