CONDITIONAL SALES CONTRACT is a credit contract used for the purchase of equipment where the purchaser doesnt receive title of the equipment until the amount specified in the contract has been paid in full.
AUDIT SCHEDULES are the information formats developed by the external auditors to guide the corporation in the preparation of particular information presented in a particular manner that facilitates the audit. These should always be completed by the corporation prior to the start of the audit.
AP is Accounts Payable.
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