UNIT-OF-WORK-PERFORMED METHOD Definition

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UNIT-OF-WORK-PERFORMED METHOD is where revenue and cost of sales are recorded as units of work are delivered. This is most suitable to production-type contracts where many units of a product are produced in a continuous process, e.g. automobile manufacture.

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SHEQEL (SHEKEL) is a currency of Israel.

REDISCOUNT is to discount short-term negotiable debt instruments for a second time, after they have been discounted with a bank.

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