AUTHORIZE / AUTHORIZATION Definition

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AUTHORIZE / AUTHORIZATION is to give permission for. For example, a manager authorizes a transaction by signing a voucher authorizing the disbursement.

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PLEDGED ASSET is an asset that is transferred to a lender as security for debt. The lender of the debt takes possession of the pledged asset, but does not have ownership unless default occurs.

UNQUALIFIED OPINION is an independent auditors opinion that a companys financial statements comply with accepted accounting procedures. See QUALIFIED OPINION.

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