COMMERCIAL LOAN Definition

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COMMERCIAL LOAN is a short-term business loan usually issued for a term of up to six months.

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OCCURRENCE deals with whether recorded transactions have occurred during a given period. For example, management asserts that sales in the income statement represent the exchange of goods or services with customers for cash or other consideration.

In the company's financial reporting documents this category may contain several line items, e.g. R&D, Sales & Marketing, and General & Administrative. You must ensure that all Overhead Expense line items are contained and accounted for within this category. Where there in no matching category, enter those amounts on a cumulative basis into the General & Administrative category. Enter all amounts in 1,000's.

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