AS-IS CONDITION Definition

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

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TRADEMARK is a formally registered symbol identifying the manufacturer or distributor of a product.

REPORTABLE CONDITION is a matter coming to the auditor's attention relating to SIGNIFICANT DEFICIENCIES in the design or operation of the entitys internal control that could ADVERSLY AFFECT an entity's ability to fulfill future obligations with customers and/or the satisfaction of liabilities.

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