TOTAL LIABILITIES AND EQUITY Definition

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TOTAL LIABILITIES AND EQUITY is all claims on the company's total assets, by outsiders (liabilities) and the company owners/shareholders (equity).

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APPLICATION RATE is the quantity (mass, volume or thickness) of material applied per unit area.

FIXED FEE is a set price for the completion of a project. It is easier for the customer to budget, but provides higher risk for the contractor due to cost overruns.

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