COLON (COLONES) Definition

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COLON (COLONES) is a currency of Costa Rica and El Salvador.

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DISCLOSURE PRINCIPLE states that any and all information that affects the full understanding of a companys financial statements must be include with the financial statements. Some items may not affect the ledger accounts directly. These would be included in the form of accompanying notes. Examples of such items are outstanding lawsuits, tax disputes, and company takeovers.

BILLINGS IN EXCESS OF COSTS see COST IN EXCESS OF BILLINGS.

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