RELEVANCE CONCEPT Definition

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RELEVANCE CONCEPT refers to the capacity of accounting information to make a difference to the external decision makers who use financial reports.

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OPERATING TRANSFER specifically identifies the transfer of resources from one fund/account to another made to support the normal level of operations of the receiving fund/account.

LINE OF CREDIT is an agreement whereby a financial institution promises to lend up to a certain amount without the need to file another loan application. The borrower is required to reduce the debt whenever the limit of the full amount of credit has been reached.

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