BUSINESS RISK Definition

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BUSINESS RISK see OPERATING RISK.

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RECHARGE, in accounting, normally involves an activity that provides a specific, ongoing and repetitive good or service to an entity or projects and recovers the cost of providing the good or service from the entity served on a fee basis. Operating costs are supported by recharges to the departments or specific activity receiving the service.

DEVOLVE is to pass on or delegate to another, e.g. a devolved letter of credit.

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