ALLONGE Definition

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ALLONGE is a piece of paper attached to a negotiable instrument to allow space for writing endorsements.

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LCM RULE is an abbreviation for lower-of-cost-or-market rule. LCM requires that an asset be reported on the financial statements at the lower of purchase cost or market value.

ONEROUS CONTRACT is one in which the unavoidable costs of meeting the obligations under the contract exceed the economic benefits to be received under the contract.

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