NOT SUFFICIENT FUNDS (NSF) CHECK Definition

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NOT SUFFICIENT FUNDS (NSF) CHECK is a bank check written against an inadequate balance. Also called insufficient-funds check and, informally, a bounced check.

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LIMITATION, in contracts, is a certain period limited by statute after which actions, suits, or prosecutions cannot be brought in the courts.

EXPOSURE DRAFT is a proposed statement of financial accounting standards issued by the FASB for public comment. The exposure draft represents the FASBs considered judgment on a specific accounting issue. Subject to comments received and possible additional deliberation, an exposure draft may become a Statement of Position (SOP), mandating a Financial Accounting Standard (FAS).

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