EXISTENCE Definition

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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CAPITAL ACCOUNT, in finance, is an account of the net value of a business at a specified date; in economics, it is that part of the balance of payments recording a nations outflow and inflow of financial securities.

PREPAID RENT see PREPAID EXPENSES.

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