FOC Definition

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FOC see FLAG OF CONVENIENCE.

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NOMINAL LEDGER is the account book showing expenditure on nominal accounts i.e. named business accounts such as postage, printing, etc.

RUNNING TOTAL is the sum of any given set of numbers that is incremented/decremented as additional numbers become available over time. For example, a retail store makes sales throughout a time period; the running total is the sum of their sales, including returns/credits, at any given point of time during that time period: day, week, month, quarter, and year.

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