APPRAISAL Definition

APPRAISAL is a report made by a qualified person setting forth an opinion or estimate of value.

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LONG-TERM LIABILITIES are liabilities of a business that are due in more than one year. An example of a long-term liability would be a mortgage payable.

FINANCIAL POSITION is the status of a firms or individuals assets, liabilities, and equity positions as reflected on its financial statement.

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