BROKER Definition

BROKER is an individual or firm that acts as an intermediary between a buyer and seller, usually charging a commission.

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STANDARD OF VALUE is the identification of the type of value being utilized in a specific engagement; e.g. fair market value, fair value, investment value.

RELEVANT ASSERTION, in accounting, is a financial statement assertion that has a reasonable possibility of containing a misstatement or misstatements that would cause the financial statements to be materially misstated.

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