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English definition of “fixed instalment system”

fixed instalment system

noun [C]    
ACCOUNTING a method of depreciating (= spreading the cost of something over several financial years) an asset in a company's accounts in which the same amount is subtracted every year: We decided to depreciate the machinery at 10% per annum under the fixed instalment system. → See also straight-line method
(Definition of fixed instalment system noun from the Cambridge Business English Dictionary © Cambridge University Press)
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