SHILLING Definition

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SHILLING is a currency of Biafra, Kenya, Somaliland, Tanzania, Uganda, England, and Isle of Man.

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COMMITTED COSTS are costs, usually fixed costs, which the management of an organization has a long-term responsibility to pay. Examples include rent on a long-term lease and depreciation on an asset with an extended life.

TRADING SECURITIES is investment in securities with the intention of selling them in the short term for a profit. These are reported at market value. Unrealized gains or losses on these investments appear in the Net Income for the period.

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