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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WHOLE LOAN is a mortgage pass-through or CMO backed by non-agency, single-family home mortgages.

ASSERTION is when management asserts financial statements are correct with regard to existence or occurrence of assets, liabilities or transactions, completeness of information in the financial statements, rights and obligations at a point in time, appropriate valuation or allocation, presentation, and disclosure.

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