RESERVE Definition

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RESERVE is an accounting entry that properly reflects contingent liabilities.

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TOTAL LIABILITIES is all the obligations of the company, i.e. includes Total Current Liabilities, Long Term Debt, and any other miscellaneous liabilities the entity may have listed separately.

INVOICE, COMMERCIAL is a legal document that functions internationally as a bill of sale. It usually contains the exporting company, contents of the shipment, amount charged, name of carrying vessel, order number and payment terms.

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