LIVING ASSETS Definition

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LIVING ASSETS are employees. Also referred to as "live assets," "human capital," "resources" and "carbon units."

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SECURED LIABILITY is a liability that has a degree of protection towards satisfaction if unpaid because the debtor has pledged personal/company assets towards satisfaction of that liability; e.g., a property mortgage is a secured liability because the mortgage holder has a guarantee through a lien on the property.

RETURNS INWARDS are goods sold on credit to a customer and returned for some reason to be refunded for (Sales returns).

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