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GLOSSARY OF BUSINESS AND FINANCIAL TERMS

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UNDIVIDED INTEREST - An undivided interest exist when owner of a business or property in conjunction with other co-owners is entitled to undivided possession of the whole property.

UNIT COST - The average cost of an item, used usually for valuation purposes.

USEFUL LIFE - The period over which a component or structure may reasonably be expected to perform the function for which it was designed or intended.
 


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