Examlex
What is the term for a chosen set of words, usually arranged in alphabetical order, that are understood and accepted by a community.
Subsequent Events
Events occurring after the balance sheet date but before the financial statements are issued, which could materially affect the financial statements if not accounted for.
Fire or Flood Loss
Refers to the financial impact on a business or individual's assets due to damage caused by fire or floods, often covered by insurance.
Litigation Settlement
The resolution of a legal dispute before the court issues a final verdict, often involving payment to the aggrieved party.
Related-Party Transactions
Transactions occurring between parties where one is able to exert significant influence over the operations of the other, such as between a parent company and its subsidiary.
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