PERVASIVE Definition

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PERVASIVE is having the ability to permeate. An error is pervasive if it is material to more than one of the primary financial statements.

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DISCRETIONARY COST can be increased or decreased at the discretion of the decision maker (e.g., advertising and business travel).

LIQUIDATOR is a person appointed by a court of law or unsecured creditors who liquidates assets or preserves them for the benefit of affected parties.

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