CORROBORATE Definition

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CORROBORATE is to strengthen with other evidence in order to make more certain.

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DATE DRAFT is a payment option draft that matures in a specified number of days after the date issued.

OBJECTIVITY PRINCIPLE states that accounting will be recorded on the basis of objective evidence. Objective evidence means that different people looking at the evidence will arrive at the same values for the transaction. Simply put, this means that accounting entries will be based on fact and not on personal opinion or feelings.

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