GROSS REVENUE Definition

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GROSS REVENUE is income (at invoice values) received for goods and services over some given period of time. See also GROSS SALES.

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SUSTAINING CAPITAL REINVESTMENT is the periodic capital outlay required to maintain operations at existing levels, net of the tax shield available from such outlays.

SEPARATE VALUATION CONCEPT is a recording and measurement rule that relates to the determination of the aggregate amount of any item. In order to determine the aggregate amount of an asset or a liability, each individual asset or liability that comprises the aggregate must be determined separately. This is important because material items may reflect different economic circumstances. There must be a review of each material item to comply with the appropriate accounting standards.

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