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Term: Accounting -> Equipment
Term:

Equipment

Definition:

Generally, equipment is classified as a free-standing item having an acquisition value of $1500.00 or higher, and a normal life expectancy of one year or longer. See Policy and Procedure Manual, Section 350-65 for more information. Equipment can only be purchased on a Purchase Requisition.

Related terms:

Incremental Budgeting

Finance charge
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