RELIABILITY CONCEPT Definition

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RELIABILITY CONCEPT is a quality of information that assures decision makers that the information represented in the financial records and financial statements captures the actual conditions and events of the reported entity.

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STABLE DOLLAR ASSUMPTION is when using money as a measuring unit and preparing financial statements expressed in dollars, accountants make the assumption that the dollar is a stable unit of measurement.

REMIC is Real Estate Mortgage Investment Conduit. Refers to U.S. legislation, created with the Tax Reform Act of 1986, that allowed for the issuance of collateralized mortgage obligations.

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