PRACTICAL CAPACITY Definition

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PRACTICAL CAPACITY is where the cost of production is based on the practical capacity of production facilities. Therefore, the proportion of overheads allocated to a unit of production is not to be increased as consequence of idle capacity of the plant.

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VEST / VESTING / VESTED, in law, is to give a secured right of present or future award. An entity has a vested right to an asset that cannot be taken away by a third party, even if physical possession of the asset has not yet been realized.

LIRA (T√úRK LIRASI) is a currency of Turkey.

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