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When should an air conditioning system be evacuated?
Corporation
is a legal entity recognized by law as a separate entity from its owners, with its own rights and obligations.
Variable Costing
A costing method that includes only variable manufacturing costs in product costs and treats fixed manufacturing overhead as a period expense.
Absorption Costing
An accounting method that includes all manufacturing costs - direct materials, direct labor, and both variable and fixed overhead - as part of the cost of a product.
Carrying Value
The net amount at which an asset is valued on a company's balance sheet, considering its original cost minus any depreciation, amortization, or impairment costs.
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