A Standard That Takes into Account the Reality That Some

question 96

Short Answer

A standard that takes into account the reality that some loss usually occurs with any process under normal application of the process is known as a ________ standard.

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Definitions:

Simple Interest

Interest calculated only on the principal amount, not on previous interest earned.

Discounted

Refers to the reduction of an item's price or the present value calculations of future cash flows using a discount rate.

Promissory Note

A financial instrument containing a written promise by one party to pay another party a definite sum of money either on demand or at a specified future date.

Promissory Note

A financial instrument involving a written promise by one party to pay another a definite sum of money either on demand or at a specified future date.