OFF THE BOOKS Definition

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OFF THE BOOKS is a term associated with transactions which do not appear in any of the financial records kept by a business. Strictly speaking, 'off the books' implies cash payments received for assets (products and services) which are not officially recorded in the accounting system of the business.

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CANDY DEAL is a slang term that refers to an illegal business practice to inflate revenue/sales numbers by selling product to distributors with a pledge to buy them back later, in addition to providing a percentage kickback to the distributor for assisting in falsifying the sale.

REVOLVING FINANCING is financing secured by collateral.

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