NET LOSS Definition

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NET LOSS is the amount by which total of costs and expenses exceeds total revenue in an accounting period.

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EXPLICITLY is something fully and clearly expressed, i.e. leaving nothing implied.

E&O INSURANCE is an errors and omissions, or E&O, liability policy (often called malpractice insurance) covers liability for negligent acts, errors and omissions committed by professionals, including physicians, accountants, lawyers, etc.

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