Examlex
Individuals live and work in both individual and aggregate economic entities.
Note Payable
A written promise to pay a certain amount of money, typically including interest, by a certain date; a form of credit or loan.
360-Day Year
An accounting practice that simplifies interest calculation by assuming a year has 360 days.
Product Warranty Expense
Costs incurred by a company due to repairing or replacing products under warranty.
Warranty Payments
Payments made to repair or replace products that fail to meet specified standards of quality within a certain period after sale, covered under a warranty agreement.
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