INCORRECT REJECTION Definition

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INCORRECT REJECTION, in accounting, is the risk the sample supports the conclusion that the recorded balance is materially misstated when it is not materially misstated.

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INTEREST DATES are the dates on which interest is payable to the holders of bonds: for government, corporate and municipal bonds, twice a year; for mortgage-backed securities, every month, and for foreign securities typically once a year.

MIS see MANAGEMENT INFORMATION SYSTEM.

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