BOOK OF FINAL ENTRY Definition

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BOOK OF FINAL ENTRY see LEDGER.

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COMMODITY is an article of commerce or product that can be used for commerce. In a narrower sense, commodity is product traded on an authorized commodity exchange. Some types of commodities: agricultural products, metals, petroleum, foreign currencies, financial instruments and indices, etc.

AS-IS CONDITION is the transfer of title to a property in an existing condition with no warranties or representations.

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