MODIFIED ACCELERATED COST RECOVERY SYSTEM Definition

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MODIFIED ACCELERATED COST RECOVERY SYSTEM (MACRS) is a system used in accounting to define the rate and method under which a fixed asset will be depreciated for tax purposes.

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CREDIT MEMO is a document used to issue a vendor credit.

UNAUDITED OPINION is a qualified opinion by a Certified Public Accountant who has not audited the relevant financial statements.

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