STABLE UNIT OF MEASURE Definition

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STABLE UNIT OF MEASURE, in accounting, assumes that money is used as the basic measuring unit for financial reporting. Money is the common denominator in which accounting measurements are made and summarized. The dollar, or any other monetary unit, represents a unit of value; that is, it reflects an ability to command goods and services. Implicit in the use of money as a measuring unit is the assumption that the dollar is a stable unit of value, just as the kilometer is a stable unit of distance and the hectare is a stable unit of area.

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ELIGIBLE is a security for which one or more Market Makers has received clearance to quote the issue on the OTCBB in the last 30 days. Securities receive eligible status if they are cleared following the filing of a Form 211 or a 15c2-11 Exemption Form. A frequency of quotation test is administered during the eligible period. Until the test is satisfied, any other Market Maker that wishes to quote the issue must also submit a completed Form 211.

AXIOM, generally, it is a saying that is widely accepted on its own merits; in logic, it is a proposition that is not susceptible of proof or disproof; its truth is assumed to be self-evident.

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