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:

Other Comprehensive Basis of Accounting

Minor Capital Outlay

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Investment

Provide a guide to possible financial outcomes for the purchase of an investment property

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