PROPRIETORS FUNDS Definition

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PROPRIETORS FUNDS is owners capital plus net profit minus owners' drawings.

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ENCUMBRANCE is a) a right or interest in land owned by someone other than the owner of the land itself; examples include easements, leases, mortgages, and restrictive covenants; or, b) in accounting, an encumbrance is an anticipated expenditure, or funds restricted for anticipated expenditures, such as for outstanding purchase orders.

MARINE INSURANCE is insurance coverage protecting against loss or damage of goods transported by sea.

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