NON-MONETARY ASSET Definition

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NON-MONETARY ASSET see MONETARY ASSET.

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VALUE is a term that defines the worth of a thing. The term is usually preceded by the word, or words such as Fair" or "Fair Market", and it is usually defined in the document where it is found. Not all value for an item is the same, i.e. value is usually perceived.

DEFICIENCY is a shortcoming in an internal control or an opportunity to strengthen internal controls.

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