SALE AND LEASEBACK Definition

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SALE AND LEASEBACK is a financial transaction, where one sells an asset and leases it back for the long-term. 

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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.

ACCRUED PAYROLL is a liability arising from employees salary expense that has been incurred but not paid.

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