STABLE MONETARY UNIT CONCEPT Definition

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STABLE MONETARY UNIT CONCEPT allows accountants to ignore the effect of inflation in the accounting records.

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DIRECT LABOR RATE VARIANCE reveals the difference between the standard rate and actual rate for the actual labor hours worked [(standard rate - actual rate) X actual hours].

PLACEMENT is bank depositing Eurodollars with (selling Eurodollars to) another bank is said to be making a placement.

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