ON ACCOUNT Definition

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ON ACCOUNT is a partial payment made towards satisfaction of a debt.

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STANDARD OF VALUE is the identification of the type of value being utilized in a specific engagement; e.g. fair market value, fair value, investment value.

TRANSACTION ANALYSIS is coupled with data event analysis. Transaction analysis looks at the data carriers which move data and information around the firm. Some of these transactions may be externally generated and some are internally generated. See DATA EVENT ANALYSIS.

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