NOTES RECEIVABLE Definition

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NOTES RECEIVABLE is a debt due from borrowers evidenced by a written promise of payment. Note receivable, an entry on the asset side of many corporate balance sheets, indicates the dollar amount of loans due to be repaid by borrowers.

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ABSOLUTE CHANGE is a numerical change in an empirical value, e.g. cost of goods was reduced by $9.00.

PERVASIVE is having the ability to permeate. An error is pervasive if it is material to more than one of the primary financial statements.

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