Installment
Installment is a partial payment made on a schedule toward settling a larger debt or purchase. Installments break down the total into manageable chunks, often including both principal and interest. They are common in loans, leases, or large purchases and help improve affordability and cash flow planning.
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Incurred Expense
An incurred expense is a cost that a business has become liable for, regardless of whether it has been paid…
Incremental Cost
Incremental cost refers to the additional expense incurred when producing one extra unit of output or undertaking a specific decision.…
Impairment Loss
Impairment loss occurs when an asset’s carrying value exceeds its recoverable amount. It represents a permanent reduction in the value…
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