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Accrual basis

• Recognizes revenue at the point of sale and recognizes expenses that were incurred to earn that revenue (matching principle).

 
 Embedded terms in definition
 Expenses
Point
Sale
 
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Managing Your Expenses on a Fixed or Reduced Income: Once you've retired, you finally have the opportunity to work at your dream job - keeping yourself happy. It's your chance to visit places you've always wanted to see, take up a new hobby and spend more time with your family and friends. But to be successful at this new position, you've got to make the most of your income and investments. Here are suggestions. More...

You make the world a better place by making yourself a better person. - Scott Sorrell

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