BEARER STOCKS Definition

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BEARER STOCKS are stocks not registered in the name of an owner, who can thus remain anonymous.

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PREDECESSOR AUDITOR is the auditor of a client for a prior year who no longer audits that client.

NONPROFIT ORGANIZATION is one that has committed legally not to distribute any net earnings (profits) to individuals with control over it such as members, officers, directors, or trustees. It may pay them for services rendered and goods provided. Also known as NOT-FOR-PROFIT ORGANIZATION.

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