CREDITORS Definition

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CREDITORS are the entities to which a debt is owed by another entity.

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PBC LIST (PROVIDED BY CLIENT LIST) is a request by external auditors of items that will be required from the client by the auditor prior to the commencement of fieldwork. Such PBC lists are preliminary and will likely be expanded once the audit commences.

OPERATING RATIO measures a firms operating efficiency; calculated: company operating expenses divided by its operating revenues.

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