FRINGE BENEFIT Definition

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FRINGE BENEFIT an incidental benefit awarded for certain types of employment (especially if it is regarded as a right) (Example: employer supplied health insurance or two weeks paid vacation per year).

Learn new Accounting Terms

ECONOMIC LIFE is the time period over which an asset(s) may generate economic benefits.

MONETARY UNIT is the unit used to measure economic activity (e.g., U.S. $).

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