GROUP ACCOUNTS Definition

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GROUP ACCOUNTS are the financial statements of a group of companies. These are usually presented in the form of consolidated accounts.

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TIMES FIXED CHARGES EARNED see COVERAGE OF FIXED CHARGES.

BILLS PURCHASED, in trade finance, allows a seller to obtain financing and receive immediate funds in exchange for a sales document not drawn under a letter of credit. The bank will send the sales documents to the buyers bank on behalf of the seller.

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