INCORPORATED Definition

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INCORPORATED is a legal entity that has undergone incorporation through approval by a state government.

Learn new Accounting Terms

OUTPUT VAT is VAT on a companys sales. See also VALUE ADDED TAX (VAT).

KAIZEN BUDGETING is a budgeting approach that projects costs on the basis of future improvements, rather than current practices and methods. The key point is that the budget cannot be achieved unless improvements are made.

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