NON-FIXED ASSET is normally equipment and furnishings with an original purchase value less than some pre-determined value (e.g., < $1,000 in acquisition cost assets are considered to be non-fixed assets). These items are not assigned asset inventory tags. Typical examples of non-fixed asset items are calculators, typewriters, chairs, desks, filing cabinets, shelving units and small tools.
OR is Operations Research.
RELEVANT ASSERTION, in accounting, is a financial statement assertion that has a reasonable possibility of containing a misstatement or misstatements that would cause the financial statements to be materially misstated.
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