REFINANCE Definition

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REFINANCE is to to renew or reorganize the financing of an asset, e.g. obtaining a new mortgage loan on a property already owned. Often to replace existing loans on the property.

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BUDGETARY ACCOUNTING, contrary to financial accounting, looks forward: it measures the cost of planned acquisitions and the use of economic resources in the future.

EXTERNAL is from or between other countries, e.g. external commerce; or, happening, arising or located outside or beyond a company, e.g. external influences.

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