ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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FORCED LIQUIDATION VALUE Definition
FORCED LIQUIDATION VALUE is the value at which the asset or assets are sold as quickly as possible, such as at auction.
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AGI (Annual Gross Income) is annualized total income prior to exclusions and deductions.
ADVERSE OPINION is expressed if the basis of accounting is unacceptable and distorts the financial reporting of the corporation. If auditors discover circumstances during the course of the audit that make them question whether they can issue an unqualified opinion, they should always discuss those circumstances with the client before issuing the opinion, in order to determine whether it is possible to rectify the problem.