NON-EXPENDABLE PROPERTY Definition

Bookmark and Share

NON-EXPENDABLE PROPERTY is durable (e.g., equipment and furniture), lasting for a year or longer, and generally has a high dollar value. Non-expendable property must be accounted for throughout its useful life.

Learn new Accounting Terms

REASONABLE ASSURANCE, in internal control, is the fact that internal controls, no matter how well designed and operated, cannot guarantee that an entity’s objectives will be met because of inherent limitations in all internal control systems.

SALES CONTRACT see SALES ORDER.

Suggest a Term

Enter Search Term

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