SELLING SHORT is selling securities not yet owned by the seller in anticipation of declining market prices. At some point in the future, the seller covers the sale by purchasing and delivering the securities.
MATERIALITY PRINCIPLE requires accountants to use generally accepted accounting principles except when to do so would be expensive or difficult, and where it makes no real difference if the rules are ignored. If a rule is temporarily ignored, the net income of the company must not be significantly affected, nor should the readers ability to judge the financial statements be impaired.
YEN is the currency of Japan. Its subdivisions are 100 sen and 1000 rin.
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