INTERSEGMENT REVENUE Definition

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INTERSEGMENT REVENUE is revenue generated within a segment; whether it be a business or geographical segment.

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COMPOSITE DEPRECIATION is the grouping of similar assets or dissimilar assets within the same class together for the purpose of computing a single depreciation rate to be applied to all assets within the group.

CLOSING ENTRY is a journal entry at the end of a period to transfer the net effect of revenue and expense items from the income statement to owners equity.

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