EXCHANGE RATE EFFECTS Definition

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EXCHANGE RATE EFFECTS is the effect on any given currency as the rate of exchange changes providing either a gain or loss in value against other currencies.

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SUBJECT TO, in accounting, was a type of qualified audit opinion that was worded "In our opinion, subject to....." Auditors are no longer permitted to issue such opinions.

NET PURCHASES are those items purchased less returns, discounts and allowances on those purchases.

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