ENCRYPTION Definition

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ENCRYPTION is the scrambling of data so that it is meaningless to anyone but the intended recipient, who has the key to unscramble the data to its original form.

Learn new Accounting Terms

INVESTMENT TAX CREDIT is a tax credit in the United States that allows businesses to write-off a portion of the cost of purchasing equipment for business use.

LETTER OF CREDIT, IRREVOCABLE is a letter of credit where payment is guaranteed as long as the seller meets all conditions stipulated. A revocable letter of credit can be cancelled or altered by the buyer without permission of the seller.

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