AS-IS CONDITION Definition

AS-IS CONDITION is the transfer of title to a property in an existing condition with no warranties or representations.

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NET ACCOUNTS RECEIVABLE is equal to total accounts receivable; minus an estimate for amounts the company believes it will never collect.

STATEMENT OF RETAINED EARNINGS is one of the four basic financial statements; the Statement of Retained Earnings is a reconciliation of the Retained Earnings account. Information such as dividends or announced income is provided in the statement. The Statement of Retained Earnings provides information about what a companys management is doing with the companys earnings.

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