SUMMARY ACCOUNT Definition

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SUMMARY ACCOUNT is a ledger account (such as a control account) whose balance represents the total of other account balances.

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DOLLAR-WEIGHTED RATE OF RETURN is also called the internal rate of return; the interest rate that makes the present value of the cash flows from all the sub-periods in an evaluation period plus the terminal market value of the portfolio equal to the initial market value of the portfolio.

LIMIT TEST is a computer program step that compares data with predetermined limits as a reasonableness test, e.g. number of hours worked over 40 per week.

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