PC Definition

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PC is an acronym for Professional Corporation (business legal entity).

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NEGATIVE ASSURANCE, in accounting, is a statement of what the CPA does not know as opposed to what the CPA believes (positive assurance). A statement that the CPA was "not aware of material modifications that should be made to financial statements for them to conform with U.S. generally accepted accounting principles" is negative assurance used in review reports.

BILLINGS, generally, is the request for payment of a debt. In accounting, it is sales for which invoicing has been issued.

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