COMFORT LETTERS Definition

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COMFORT LETTERS see KEEP-WELL AGREEMENTS.

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PROPRIETARY is an account, item, or information belonging to a company or individual. See PROPRIETARY ASSET.

DEBTOR DAYS is a ratio used to work out how many days on average it takes a company to get paid for what it sells. It is calculated by dividing the figure for trade debtors shown in its accounts by its sales, and then multiplying by 365.

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