OWNED RECEIVABLES Definition

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OWNED RECEIVABLES is receivables carried on the balance sheet of the institution. See MANAGED RECEIVABLES.

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F.A.S. (FREE ALONG SIDE), e.g. 'F.A.S. New York', means that, for instance, if goods are shipped from the State of Nevada in the U.S. to Madrid, Spain, no charges for shipment are made to the importer until the goods are "free alongside the vessel" in New York. After this point, charges may be applied to the importer.

VALUE IN USE is the value of an asset in the opinion of the owner.

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