EXPLANATORY Definition

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EXPLANATORY, in accounting, is a paragraph added to an audit report to explain something, such as the reason for a qualified or adverse opinion.

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CUT-OFF YIELD, in securities, is the yield at which or below which the bids are accepted.

LEAD-TIME is the time between the initial stage of a project or policy and the appearance of results, for example, the long lead-time in oil production because of the need for new field exploration and drilling.

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