CUMULATIVE Definition

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CUMULATIVE, in securities, is where a preferred stock dividend is cumulative if the dividend accrues when payments are not made as scheduled.

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REASONABLENESS TEST is where the expected value is determined by reference to data partly or wholly independent of the accounting information system, and for that reason, evidence obtained through the application of such a test may be more reliable than evidence gathered using other analytical procedures.

SHIPPING NOTICE is a formal notification that goods ordered are en-route to their destination.

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