CONTINGENCY is an existing condition involving uncertainty as to possible gain (gain contingency) or loss (loss contingency) that will be resolved by future events. Estimates, such as the useful life of an asset, are not contingencies. Eventual expiration of the asset's utility is not uncertain.
HORIZONTAL FINANCIAL ANALYSIS allows comparison of one companys ratios to the ratios of other companies as well as to average industrial ratios and internal industrial deviation of these ratios.
ESTATE TAXES are the Federal taxes levied on the transfer of property from the deceased to his or her heirs, legatees or devisees.
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