PERMANENT AUDIT DOCUMENTATION Definition

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PERMANENT AUDIT DOCUMENTATION includes items of continuing accounting significance, such as the analysis of balance sheet accounts and contingencies. Such information from a prior year is used in the current audit and updated each year. Sometimes called the continuing file.

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YIELD TO MATURITY (YTM) is the rate of return the investor will earn if a bond is held to maturity.

EXPENSES are the daily costs incurred in running and maintaining a business. See expenditure.

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