ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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VENDOR Definition
VENDOR is a legal entity that promotes or exchanges goods or services for money.
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MANAGEMENT EXPENSE is the management fee deducted from a funds average net assets to pay an advisor or sub-advisor. This fee is normally on a sliding scale. As the net assets of the fund increase, the percentage deducted for management fees decreases. A fund can also have a fixed rate or flat fee to compensate the advisor.
INTERNAL CONTROL WEAKNESS is a defect in the design or operation of internal controls.
