EXTEND Definition

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EXTEND, in math, means to multiply one number by another (e.g. to test extensions is to test the accuracy of multiplication done by the client). To extend audit procedures is to apply additional audit procedures to obtain more evidence.

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SHRINKAGE is: 1. the amount by which something shrinks; 2. process or result of becoming less or smaller (Example: "The material lost 2 inches per yard in shrinkage") or, 3. the act of stealing goods that are on display in a store (Example: "Shrinkage" is the retail trades euphemism for shoplifting).

PUBLIC OFFERING is the sale of a new securities issue to the public by way of an underwriter, a transaction that must be registered with the Securities and Exchange Commission.

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