TOTAL CURRENT ASSETS Definition

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TOTAL CURRENT ASSETS is total of cash & equivalents, trade receivables, inventory and all other current assets.

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APPROPRIATION ACCOUNT is a separate account for which specific dollar amounts are authorized and appropriated.

UNCOLLECTIBLE ACCOUNT EXPENSE, also known as a bad-debt expense, is that expense incurred in the unsuccessful attempt to realize payment of a Account Receivable. Uncollectible account expenses must be incurred in the time period in which the related sales are made, e.g. an AR that originates from a credit sale in January and is determined to be uncollectible in June represents an expense in January.

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