SERVICE CHARGE is an additional charge for a service for which there is already a basic fee; also called service fee.

ACCOUNTING EQUATION is a mathematical expression used to describe the relationship between the assets, liabilities and owners equity of the business model. The basic accounting equation states that assets equal liabilities and owners equity, but can be modified by operations applied to both sides of the equation, e.g., assets minus liabilities equal owners equity.

COST is the amount of money that must be paid to take ownership of something; expense or purchase price.

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