OFF-BALANCE SHEET ASSET Definition

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OFF-BALANCE SHEET ASSET is an item representing a resource of the entity or something that is projected to have future economic value. It is a positive indicator of the entities financial position even though it is not contained within the balance sheet.

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COMPLIANCE AUDIT is the review of financial records to determine whether the entity is complying with specific procedures or rules.

HELD is a situation where a security is temporarily not available for trading or subject to a trade halt. Market Makers are not allowed to display quotes of held securities.

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