ORDINARY ASSET Definition

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ORDINARY ASSET is a non-capital asset used for business purposes. See CAPITAL ASSET.

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DISCLAIMER is a statement that the auditor is unable to express an opinion as to the presentation of financial statements in conformity with U.S. GAAP.

STATUTORY MERGER is a merger where one entity remains as a legal entity, instead of a new legal entity being formed. See also STATUTORY CONSOLIDATION.

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