NORMAL BALANCE Definition

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NORMAL BALANCE, in accounting, is the side of an account, whether debit or credit, to which increases to the account are recorded.

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CAPITAL COMMITMENT is an agreement to undertake capital expenditure at some set time in the future which has not yet become an actual liability.

STEP LEASE is a type of lease that outlines or stipulates the expected annual increases in the tenants base rent based on an approximation of what the landlord believes what the landlord's expenses may be.

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