BOUNCED CHECK Definition

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BOUNCED CHECK is a check written for an amount exceeding the checking account balance that is subsequently rejected for payment due to insufficient funds.

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ANNUAL REPORT is the requirement for all public companies to file an annual report with the Securities and Exchange Commission detailing the preceding years financial results and plans for the upcoming year. Its regulatory version is called "Form 10 K." The report contains financial information concerning a companys assets, liabilities, earnings, profits, and other year-end statistics. The annual report is also the most widely-read shareholder communication.

EXTRAORDINARY ITEMS are material items that are unusual in nature and occur infrequently. Both characteristics must exist for an item to be classified as an extraordinary item on the income statement.

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