ABATEMENT Definition

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ABATEMENT, in general, is the reduction or lessening. In law, it is the termination or suspension of a lawsuit. For example, an abatement of taxes is a tax decrease or rebate.

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COMPARE / COMPARISON is an audit procedure where an auditor observes similarities and differences between items such as an account from one year to the next.

AICPA is the American Institute [of] Certified Public Accountants.

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