CHARGEBACK Definition

CHARGEBACK, in the credit industry, occurs when a credit card processor 'charges back' to the merchant the cost of returned items or incorrect orders that the customer claims were made to his or her credit card.

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NYSE is New York Stock Exchange.

ACCOUNTING PRINCIPLES BOARD (APB) OPINIONS were published by the Accounting Principles Board (APB). The APB was created by American Institute of Certified Public Accountants (AICPA) in 1959; replaced by Financial Accounting Standards Board (FASB) in 1973. The APB mission was to develop an overall conceptual framework of US generally accepted accounting principles (US GAAP). APB was the main organization setting the US GAAP and its opinions are still an important part of it.

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