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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JOINT COSTS are costs incurred to produce a certain amount of two or more products where the cost of producing one product cannot be logically isolated and cost allocation is arbitrary. Simplified, they are the costs of a single production process that yields multiple products simultaneously.

UNRESTRICTED ASSETS are assets / resources which are not restricted for use by legal or contractual requirements and may be used for any purpose.

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