"Where Everyone Has an MBA"
Tel: (612) 246-4616
Tel: (612) 246-4616
NONRECURRING is an income statement item that is infrequent in occurrence or unusual in nature.
13TH PERIOD in the fiscal year is the period used for fiscal year-end adjusting entries (periods 1-12 being the months in the fiscal year).
ALLOWANCE FOR NOTES RECEIVABLE LOSSES is an account maintained at a level considered adequate to provide for probable losses. The provision is increased by amounts charged to earnings and reduced by net charge-offs. The level of allowance is based on management's evaluation of the portfolio, which takes into account prevailing and anticipated business and economic conditions and the net realizable value of securities held.
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