KAK Definition

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KAK is a currency of Cambodia/Kampuchea.

Learn new Accounting Terms

OBLIGATION, in business, is a legal duty to pay or do something.

EXTINGUISHMENT OF DEBT is the debtors satisfaction of the obligation to a creditor, either legally or in-substance. A debt shall be accounted for as having been extinguished in a number of circumstances, including when it has been settled through repayment or replacement by another liability.

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