RUNNING RATE is a sustained constant rate, often the only important single rate except for zero observed under a given schedule (as in some ratio performances) also known as stream rate.
REVOLVING COLLATERAL is accounts receivable or inventory which change from day to day.
SUBSTANTIVE AUDIT PROCEDURE is a direct test of a financial statement balance designed to detect material misstatements at the assertion level. Substantive procedures comprise tests of details (classes of transactions, account balances, and disclosures), and substantive analytical procedures.
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