REVENUE JUSTIFIED Definition

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REVENUE JUSTIFIED is where the revenue realized from a product or service will pay for the cost and expenses of that product or service, i.e. the product or service will pay for itself.

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DISCLAIMER is a statement that the auditor is unable to express an opinion as to the presentation of financial statements in conformity with U.S. GAAP.

ACKNOWLEDGEMENT OF INDEBTEDNESS is a written recognition of debt that is enforceable in law, e.g. memorandum check, bank draft, or loan contract.

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