LP Definition

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LP see LINEAR PROGRAMMING.

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SURETY BOND is a contract by which one party agrees to make payment on any default or the debt of another party.

ECONOMIC ENTITY accounting concept that provides context or 'point of view' for the economic events (i.e., transactions) captured by the financial statements. In short, it answers the questions, 'Whose asset is it?'; 'Whose liability is it?'

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