SALARY Definition

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SALARY is scheduled wages and benefits an employee receives from an employer.

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ALLOCATE is to distribute according to a plan or set apart for a special purpose. Examples: a. spread a cost over two or more accounting periods; b. charge a cost or revenue to a number of departments, products, processes or activities on a rational basis.

NET PROPERTY, PLANT, and EQUIPMENT is the book value of all buildings, land, furniture, and other physical capital assets that a business has purchased to run its business net of accumulated depreciation.

 

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