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.
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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