REPORTABLE SEGMENT Definition

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REPORTABLE SEGMENT is a business segment or geographical segment for which IAS 14 requires segment information to be reported.

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PRUDENCE CONCEPT, otherwise known as conservatism, says that whenever there are alternative procedures or values, the accountant will choose the one that results in a lower profit, a lower asset value and a higher liability value.

INVESTMENT TAX CREDIT is a tax credit in the United States that allows businesses to write-off a portion of the cost of purchasing equipment for business use.

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