OTHER LONG-TERM LIABILITIES Definition

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OTHER LONG-TERM LIABILITIES are any other non-current liabilities, including subordinated debt, and liability reserves.

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EXCHANGE RATE RISK, in foreign exchange, is the variability of a firm's value due to uncertain changes in the rate of exchange.

OBJECTIVITY PRINCIPLE states that accounting will be recorded on the basis of objective evidence. Objective evidence means that different people looking at the evidence will arrive at the same values for the transaction. Simply put, this means that accounting entries will be based on fact and not on personal opinion or feelings.

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