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Retirement is the withdrawal from one's position or occupation or from one's active working life. A person may also semi-retire by reducing work hours. An increasing number of individuals are choosing to put off this point of total
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Asset Retirement Obligation (ARO) is a legal obligation associated with the
retirement of a tangible long-lived asset in which the timing or method of settlement may be conditional on a future event, the occurrence of which may not be within the control of the entity burdened by the obligation. In the United States, ARO accounting is specified by Statement of Financial Accounting Standards ...
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