ACCOUNTING PACKAGE/SOFTWARE Definition

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ACCOUNTING PACKAGE/SOFTWARE, usually, is a commercially available software program or suite that, with little customization, will satisfy the accounting system needs of the purchasing entity.

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DISCLAIMER is a statement that the auditor is unable to express an opinion as to the presentation of financial statements in conformity with U.S. GAAP.

MARKET DISCOUNT is the stated redemption price of a bond at maturity minus your basis in the bond immediately after you acquire it. Market discount arises when the value of a debt obligation decreases after its issue date.

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