ACKNOWLEDGEMENT OF INDEBTEDNESS Definition

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ACKNOWLEDGEMENT OF INDEBTEDNESS is a written recognition of debt that is enforceable in law, e.g. memorandum check, bank draft, or loan contract.

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PENSION FUND is a fund reserved to pay workers pensions when they retire from service. Also known as SUPERANNUATION FUND.

OTHER LONG-TERM LIABILITIES are any other non-current liabilities, including subordinated debt, and liability reserves.

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