EXISTENCE Definition

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EXISTENCE, in accounting, deals with whether assets or liabilities exist at a given date. For example, management asserts that finished goods inventories in the balance sheet are available for sale.

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AAT, in Great Britain, is Association of Accounting Technicians.

REALIZED GAIN/LOSS, in securities, is a capital gain or loss on securities held in a portfolio that has become actual by the sale or other type of surrender of one or many securities. See also CAPITAL GAIN.

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