SPECIAL DEPRECIATION Definition

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SPECIAL DEPRECIATION are governmental tax incentive measures intended to help achieve a variety of policy objectives including support for certain regions or certain types of firms by offering tax incentives through depreciation bonuses.

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DUAL PURPOSE TEST is when audit procedures are classified both as substantive tests and tests of controls. When an audit procedure provides both types of evidence it is a dual purpose test.

AVERAGE SETTLEMENT PERIOD is calculated: For Debtors = Trade Debtors X 365 days / Credit Sales
For Creditors = Trade Creditors X 365 days / Credit Purchases.

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