LESSEE Definition

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LESSEE is the party to whom the possession of specified property has been conveyed for a period of time in return for rental payments.

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ALLOCATE is to distribute according to a plan or set apart for a special purpose. Examples: a. spread a cost over two or more accounting periods; b. charge a cost or revenue to a number of departments, products, processes or activities on a rational basis.

FEE ABSOLUTE see FEE SIMPLE.

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