PIECEMEAL OPINION Definition

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PIECEMEAL OPINION is an expression of an opinion on an item in financial statements that is not permitted as part of a disclaimer or adverse opinion on the financial statements as a whole because it would tend to overshadow or contradict a disclaimer of opinion or an adverse opinion.

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CAPITAL RATIONING is restrictions put of the amount planned for new expenditures.

LICENSE is a legal document giving official permission to do something.

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