Examlex
When planning a team presentation, a goal is the first item of order.
Past Event
An event or transaction that has occurred prior to the balance sheet date, impacting the financial position or performance of an entity.
Reliable Estimate
A calculation or assessment regarding figures or outcomes that is deemed dependable based on available evidence.
Contingent Liability
A contingent liability is a potential financial obligation that may arise depending on the outcome of an uncertain future event.
Accrual
A bookkeeping approach that logs income and expenditures at the time they occur, irrespective of the timing of actual cash transactions.
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