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Theoretically, a bond payable should be reported at the present value of the interest discounted at
On/Off Controller
A simple control mechanism that switches a device or system between two states: on and off.
Process Variable
A measurable quantity representing a condition essential to a process, such as temperature, pressure, or flow rate, monitored to control or optimize the process.
Control Element
A component used in control systems to modify or manage the control process, such as a valve or switch.
Actual Output
The real, measured output of a system or process, as opposed to expected or theoretical outputs, used for performance assessment and adjustments.
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