SPECIFIC IDENTIFICATION METHOD Definition

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SPECIFIC IDENTIFICATION METHOD is an inventory costing method under which the actual cost of a particular item is assigned to that item; used for determining cost of goods sold.

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LESSOR is the party who conveys specified property to another for a period of time in return for the receipt of rent.

CORPUS is often confused and misunderstood. The literal meaning of the term corpus is the main part/organ of a body. The term corpus also denotes the sum and substance of an issue/entity.

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