RUNNING RATE Definition

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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.

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GRANTEE is the person or entity to whom property or assets are transferred.

INSPECT / INSPECTION, during an audit, is to scrutinize or critically examine a document. As part of a CPA firm's quality control system, a procedure to monitor the effectiveness of the system.

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