RECOVERABLE AMOUNT Definition

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RECOVERABLE AMOUNT is, in relation to an asset, the net amount that is expected to be recovered through the cash inflows and outflows arising from its continued use and subsequent disposal.

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OBJECTIVE is a statement that is written in terms of specific measurable time-based and verifiable outcomes that challenge the organization to be more responsive to the environment to achieve the desired goals. Dependent upon usage, GOALS are general in nature, while OBJECTIVES are specific, measurable and time-based. In some organizations, the meanings for GOAL and OBJECTIVE are reversed.

LAPPING is a scheme to cover an embezzlement by using payments made by one customer to reduce the receivables balance of another customer.

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