ATM Definition

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ATM see AUTOMATED/AUTOMATIC TELLER MACHINE.

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DOUBTFUL DEBT is a debt where circumstances have rendered its ultimate recovery uncertain. Conservatism requires that doubtful debts should be treated in the same way as bad debts. They should thus be recorded as an expense in the profit and loss account and to be credited to a provision to set off against ultimate default if it occurs.

LITIGATION is legal proceeding in a court; a judicial contest to determine and enforce legal rights.

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