GOING CONCERN Definition

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GOING CONCERN refers to the liquidity of a concern. If the concern is illiquid, the viability of that concern being able to continue to operate is in doubt.

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TRANSACTION FILE is a collection of transaction records. The data in transaction files is used to update the master files, which contain the data about the subjects of the organization (customers, employees, vendors, etc.). Transaction files also serve as audit trails and history for the organization.

SECONDARY MARKET is buyers and sellers willing to trade securities after their initial issuance.

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