LITIGATION Definition

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LITIGATION is legal proceeding in a court; a judicial contest to determine and enforce legal rights.

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SYNERGY is the working together of two or more things to produce an effect greater than the sum of their individual effects. For example, in the context of mergers, cost synergy is the savings in operating costs expected after two companies, who compliment each others strengths, join.

EXPLANATORY, in accounting, is a paragraph added to an audit report to explain something, such as the reason for a qualified or adverse opinion.

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