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

PERSONNEL is the department that maintains records of each individual's employment.

INVOICE is a detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill.

Suggest a Term

Enter Search Term

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