ASSET STRIPPING Definition

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ASSET STRIPPING is buying a business and then realizing a profit by selling off the assets separately.

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CONVENTION is an agreement, principle or statement expressed or implied that is used to solve given types of problems. Conventions allow a standardized approach to problem solving and behavior in certain situations. For example, placing debits on the right and credits on the left of an account is termed an accounting convention.

OEM is an acronym for Original Equipment Manufacturer.

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