Examlex
Non-sampling error occurs when audit tests do not uncover existing exceptions in the sample.
Equity Item
A component of a company's equity section on the balance sheet, representing ownership interests or claims on assets after liabilities are settled.
Balance Sheet
A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, reflecting the company's financial condition.
Convertible Securities
Convertible Securities are financial instruments, such as bonds or preferred stocks, that can be converted into a specified number of other securities, typically common stock, at the option of the holder or issuer.
Simple Capital Structure
A company's capital structure that consists only of common shares or straightforward debt without complex financial instruments such as convertible securities.
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