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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JOINT VENTURE is a venture by a partnership or conglomerate designed to share risk or expertise. See also VENTURE.

CUT-OFF is designating a point of termination. An auditor uses tests of cutoff to obtain evidence that transactions for each year are included in the financial statements of the appropriate year.

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