FIXED ASSETS (NET) Definition

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FIXED ASSETS (NET) is all property, plant, leasehold improvements and equipment, net of accumulated depreciation or depletion.

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PROFIT AFTER TAX (PAT) is the net profit earned by the company after deducting all expenses like interest, depreciation and tax. PAT can be fully retained by a company to be used in the business. Dividends, if declared, are paid to the share holders from this residue.

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

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