COMPREHENSIVE BASIS OF ACCOUNTING Definition

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COMPREHENSIVE BASIS OF ACCOUNTING is a complete set of rules other than U.S. GAAP applied to all items in a set of financial statements. Examples include a basis of accounting required by a regulatory agency, a basis of accounting the entity uses for its income tax return and the cash receipts and disbursements basis.

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HARD COPY is a printed copy of information as opposed to information stored in computer readable form.

FLAT BOND is a bond in default that is quoted and traded without any consideration for accrued interest.

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