Examlex
A patient scheduled to have a gastroplasty is having a:
Accrued Interest
Interest that has been incurred but not yet paid.
Recourse
The legal right to demand compensation or payment from the party with primary liability in the event of default.
Contingent Liability
A potential financial obligation that may arise in the future based on the outcome of a specific event.
GAAP
Generally Accepted Accounting Principles represent a unified collection of accounting rules, standards, and processes that organizations in the United States are required to adhere to when preparing their financial reports.
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