STANDARD OF VALUE is the identification of the type of value being utilized in a specific engagement; e.g. fair market value, fair value, investment value.
DEFERRED, in accounting, is any account entry where the asset or liability is not realized until a future date, e.g. annuities, charges, taxes, income, etc. The deferred item may be carried, dependent on type of deferral, as either an asset or liability.
EXTRAORDINARY EXPENSE see EXTRAORDINARY ITEMS.
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