Online Accounting Dictionary

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Unavoidable fixed costs are costs you have to incur if you want to stay in business.
Unearned revenue represents cash received and recorded as liabilities before revenue is earned. These amounts are shown in the liabilities section on the balance sheet.
Unit-level activity is an activity performed on each individual product or service. At this level, the cost drivers will be volume-based since the amount of activity will proportionally depend on the number of units produced.
Units-of-production method determines the useful life of an asset based on the units of production. Each period, the units of production determine the depreciation expense.
Useful life is a term of service during which an asset is expected to provide benefits to a company.

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