ERROR Definition

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ERROR is unintentional misstatements or omissions in financial statements. Errors may involve mistakes in gathering or processing accounting data, incorrect estimates from oversight or misinterpretation of facts, and mistakes in application of principles relating to amount, classification, presentation or disclosure.

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UN-PRESENTED CHECK is a check that was written but has not yet been forwarded to or paid by the bank on which it is drawn.

TTM see Time To Market.

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