BASE PERIOD Definition

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BASE PERIOD is a specified time period under which data is gathered, analyzed and used as a benchmark against which comparative financial or economic data from other periods is measured.

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SENSITIVE LIABILITIES normally refers to interest rate sensitive liabilities (i.e., liabilities where there is a floating interest rate).

MEMOS written records supporting journal entries. Credit memos support credits, while debit memos support debit entries. See Memo Entry.

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