INTERNAL REVENUE Definition

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INTERNAL REVENUE, if governmental, is money collected by a government through taxes and levies on facilities, income, sales of goods and services, transfers of property, and other specified domestic transactions.

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PLEDGED REVENUES is funds generated from revenues and obligated to debt service or to meet other obligations specified by the bond contract.

AVERAGE COST METHOD is using a weighted average cost for items in inventory rather than actual cost for each specific item.

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