ASSURANCE ENGAGEMENT Definition

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ASSURANCE ENGAGEMENT is an engagement in which an accountant issues a report
designed to enhance the degree of confidence of third parties and management about the outcome of an evaluation or measurement of financial statements (subject matter) against an applicable financial reporting framework (criteria).

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EXPENDITURE is a cost incurred in the normal course of business to generate revenues. See expenses.

TRADING ACCOUNT is an account held at a financial institution and administered by an investment dealer that the account holder uses to employ a trading strategy rather than a buy-and-hold investment strategy.

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