OMB Definition

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OMB is Office of Management and Budget.

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ECONOMIC EVENT is the transfer of control of an economic resource from one party to another party.

CAPITALIZATION is the statement of capital within the firm - either in the form of money, common stock, long-term debt, or in some combination of all three. It is possible to have too much capital (in which case the firm is overcapitalized) or too little capital (in which case the firm is undercapitalized).

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