OCCURRENCE Definition

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OCCURRENCE deals with whether recorded transactions have occurred during a given period. For example, management asserts that sales in the income statement represent the exchange of goods or services with customers for cash or other consideration.

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IMPERSONAL ACCOUNTS represents accounts other than Personal Accounts. This may be sub-classified into: a. Real Accounts, e.g. Asset Account; and, 2. Nominal Accounts, e.g. Income and Expenditure Accounts.

GREENMAIL, in the U.S., payment by a takeover target to a potential bidder, usually to buy back acquired shares at a premium - in return for the predator not pursuing the bid.

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