ACCOUNTING DIVERSITY is the recognition that many diverse national and international accounting standards exist in the world.
WRAP ACCOUNT at its most basic is an alternative form of commission arrangement between a securities firm and its client. Wrap accounts generally charge the client an annual fee based on assets in the account in lieu of a per transaction commission structure. In other words, the firm "wraps" together all the costs and charges them off as a "management fee". Firms often add further features to wrap accounts such as investment management, custodial services, and enhanced reporting.
KNOWLEDGE ACQUISITION is the process of acquiring knowledge from a human expert for an expert system, which must be carefully organized into IF-THEN rules or some other form of knowledge representation.
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