RELEVANT ASSERTION Definition

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RELEVANT ASSERTION, in accounting, is a financial statement assertion that has a reasonable possibility of containing a misstatement or misstatements that would cause the financial statements to be materially misstated.

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CHURN RATE is the percentage of customers (e.g., cellular telephone subscribers) that cancels their service per month.

POINT OF is a positional determinant or modifier in that it is either the starting or ending position, e.g. point of sales, point of delivery, point of collection, or point of completed production.

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