ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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SUFFICIENCY, in accounting, is a measure of the quantity of audit evidence. The independent auditor's objective is to obtain sufficient appropriate evidence to provide a reasonable basis for an opinion.
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VALUE STOCK is a stock that trades at a lower price relative to its fundamentals (i.e. earnings, dividends, sales, etc.) thereby being considered undervalued by a value investor. Common characteristics of such stocks include a high dividend yield, low price-to-book ratio and/or low price-to-earnings ratio.
COST REDUCTION is actions taken in the present designed to decrease costs in the present. See COST AVOIDANCE.