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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MARGINAL PROFIT is the change in the total profit that results from the sale of an additional unit.

COMPANY LIMITED BY GUARANTEE is where the liabilities of the members will be restricted to the amount each agrees to contribute to the assets of the company in the event of dissolution or liquidation.

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