CASH & EQUIVALENTS Definition

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CASH & EQUIVALENTS means all cash, marketplace securities, and other near-cash items. Excludes sinking funds.

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CASH IN TRANSIT is cash being transferred from one business to another or between two parts of the same business. If it is not recorded as an asset in either an adjusting entry may be necessary.

ABATEMENT, in general, is the reduction or lessening. In law, it is the termination or suspension of a lawsuit. For example, an abatement of taxes is a tax decrease or rebate.

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