ADJUSTED BOOK VALUE Definition

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ADJUSTED BOOK VALUE is the value that results after one or more asset or liability amounts are added, deleted, or changed from their respective financial statement amounts. It can be stated in either one of two ways, i.e. Tangible Book Value or Economic Book Value (also known as Book Value at Market). Tangible Book Value is different than Economic Book Value in that it deducts from asset value intangible assets, which are assets that are not hard (e.g., goodwill, patents, capitalized start-up expenses and deferred financing costs).

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MATERIAL MISSTATEMENT is accidental or intentional untrue financial statement information that influences a companys value or price of stock.

WORK SHEET is a document or schedule in which an accountant or auditor gathers information to substantiate an opinion concerning an account balance or test of transaction.

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