REPORTING ENTITY Definition

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REPORTING ENTITY is the legal entity for which financial reports are prepared and made available.

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KEY PERSON DISCOUNT is an amount or percentage deducted from the value of an ownership interest to reflect the reduction in value resulting from the actual or potential loss of a key person in a business enterprise.

SELF-CHECKING DIGIT is where an extra digit is added to a number. The extra digit is computed from the other digits in the number. The computer program can then check input by recomputing and comparing the check digit. This is a useful control over the input of account numbers.

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