ESCHEAT Definition

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ESCHEAT is the reversion of property to the state (government) in the absence of legal heirs or claimants.

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PERSISTENT EARNINGS is the level of earnings, from accounting to accounting period, that are continually recurring.

STATEMENT OF ACCOUNTING POLICIES is normally comprised of: a definition of the reporting organization, statement of general accounting policies, statement of particular accounting policies, and a statement of changes in accounting policies.

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