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Under proper circumstances, a disclaimer by an heir may increase the charitable deduction allowed a decedent.
Periodic Inventory System
An inventory accounting system where updates to inventory levels are made at specific intervals, such as monthly or annually, rather than continuously.
Physical Count
A manual inventory verification process where actual items are counted to ensure accuracy of records.
Inventory System
A method for tracking the quantity, value, and location of a company's inventory, both current and sold.
FOB Destination
A shipping term indicating that the seller is responsible for the goods and transportation costs until the buyer receives the goods.
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