IN THE BLACK Definition

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IN THE BLACK means making money; the opposite of "in the red."

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CUT-OFF is designating a point of termination. An auditor uses tests of cutoff to obtain evidence that transactions for each year are included in the financial statements of the appropriate year.

SHELF LIFE specifies the period of time which a product can be stored, under specified conditions, and remain in optimum condition and suitable for use or consumption.

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