LONG-LIVED ASSETS Definition

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LONG-LIVED ASSETS are usually those assets that are not consumed during the normal course of business, e.g. land, buildings and equipment, etc.

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MONETARY COMPENSATORY AMOUNTS (MCA), in the European Community, is a complex system of subsidies and levies with the intent of smoothing currency-related distortions in EC cross border farm trade.

SOP is Statements of Position (within the AICPA or FASB) or Standard Operating Procedure.

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