ATM Definition

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ATM see AUTOMATED/AUTOMATIC TELLER MACHINE.

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RECOGNIZE or RECOGNITION is the recording of a revenue or expense item in a given accounting period.

BENEFICIARY is a person who benefits from the terms of a trust, pension or provident fund, or other deferred income plan, or an insurance policy. In banking, it is the person in whose favor a letter of credit is issued or a draft is drawn.

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