FLAT RATE Definition

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FLAT RATE is a per unit price that remains constant regardless of the volume purchased.

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DEMAND NOTE is a note payable on demand from the person who is owed the money.

INTRODUCTORY PARAGRAPH, in an auditor's report, is the first paragraph of the auditor's standard report which identifies the financial statements audited and states the financial statements are the responsibility of management and that the auditor's responsibility is to express an opinion on the financial statements based on the audit.

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