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Explain the purpose and contents of the general ledger master file.
Cash Inflows
Money coming into a business from various sources, including sales, financing, and investments.
Salvage Value
The estimated resale value of an asset at the end of its useful life.
Total Cost Approach
The total cost approach considers all possible costs associated with a decision or project, from production to shipping, to evaluate profitability thoroughly.
Net Present Value
The difference between the present value of cash inflows and the present value of cash outflows over a period of time, used in capital budgeting to assess the profitability of an investment.
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