SPIN-OFF Definition

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SPIN-OFF is a type of corporate reorganization in which the original corporation transfers some of its assets to a newly formed corporation. In exchange for the spun off assets, the original corporation receives all of the new corporations capital stock, which it then distributes to its shareholders as a property dividend.

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VAR is an acronym for Value-Added Reseller (usually of technology products) or, in finance, Value at Risk.

DETECTION RISK is the risk that audit procedures will lead to a conclusion that material error does not exist when in fact such error does exist.

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