CLEARING BANK Definition

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CLEARING BANK is a member bank of a national check clearing system.

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BRAND NAME is a name given to a product or service.

INVENTORY OBSOLESCENCE is when inventory is no longer salable. Possibly due to too much inventory on hand, out of fashion or demand. The true value of the inventory is seldom exactly what is shown on the balance sheet. Often, there is unrecognized obsolescence.

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