EUROIZATION Definition

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EUROIZATION is the use of the euro by a country as its own currency; the linking of a currency's value to that of the euro; or, the use of the euro for accounting purposes.

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FAIR VALUE, under GAAP, is the amount at which an asset could be bought or sold in a current transaction between willing parties, other than in liquidation. On the other side of the balance sheet, the fair value of a liability is the amount at which that liability could be incurred or settled in a current transaction between willing parties, other than in liquidation.

GOODS RECEIVED NOTE is a document produced when goods are received into the company/factory. It will usually accompany goods to any inspection and is used to check against invoices before payment.

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