REPLACEMENT COST is the total cost at current prices of an asset that is not necessarily an exact duplicate of the subject asset but serves the same purpose or function as the original.
SALES & MARKETING EXPENSE normally includes: salaries, commissions, and benefits to sales and marketing personnel, co-op advertising allowances to customers, advertising, warehouse costs, and shipping costs.
YEAR-END ADJUSTMENT is the process of adjusting the entry to an account at the end of the calendar or fiscal year in order to properly state it for financial statement preparation purposes. The various required adjustments include accrual or deferral of a revenue or expense item, reclassification, to conform book figures to physical inventory counts, and reflecting unusual transactions.
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