LCM RULE Definition

Bookmark and Share

LCM RULE is an abbreviation for lower-of-cost-or-market rule. LCM requires that an asset be reported on the financial statements at the lower of purchase cost or market value.

Learn new Accounting Terms

NON-FIXED INCOME refers to any income that is not fixed, e.g. wages, profits realized on the sale of assets and/or securities. See FIXED INCOME.

ASB see ACCOUNTING STANDARDS BOARD.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.