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What Rule of Thumb Should a Salesperson Use Regarding the Use

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What rule of thumb should a salesperson use regarding the use of company resources for traveling and entertainment?


Definitions:

Equipment Account

An account on the balance sheet representing the cost of equipment owned by a company, less accumulated depreciation.

Unamortized Patent

The portion of a patent's purchase cost that has not yet been expensed through amortization in the income statement.

Consolidation

The process of combining financial statements of separate subsidiaries, divisions or entities within an organization into a single, comprehensive financial statement.

Buildings Account

An account in the financial statements that represents the value of a company's buildings as assets.

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