SOUND Definition

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SOUND, when used in a financial context, means financially secure and safe.

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STATEMENT OF RETAINED EARNINGS is one of the four basic financial statements; the Statement of Retained Earnings is a reconciliation of the Retained Earnings account. Information such as dividends or announced income is provided in the statement. The Statement of Retained Earnings provides information about what a companys management is doing with the companys earnings.

TRADE DEBTORS represent amounts of money owed by customers who have purchased goods/services from the company.

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