RECEIVERSHIP is equitable remedy whereby a court orders property placed under the control of a RECEIVER so that it may be preserved for the benefit of affected parties. A failing company may be placed in receivership in an action brought by its creditors. The business is often continued but is subject to the receivers control. See also BANKRUPTCY.
REVENUE RESERVE is a fund that is not a CAPITAL RESERVE, i.e. the funds are distributable.
EXPIRED EXPENSE is an expense having come to an end or become void after passage of a period of time.
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