AACSB Definition

AACSB - Association to Advance Collegiate Schools of Business is a global, nonprofit membership organization of educational institutions, businesses, and other entities devoted to the advancement of management education. Established in 1916, AACSB International provides its members with a variety of products and services to assist them with the continuous improvement of their business programs and schools.

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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.

PURCHASE ORDER is a written authorization for a vendor to supply goods or services at a specified price over a specified time period. Acceptance of the purchase order constitutes a purchase contract and is legally binding on all parties.

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