STATUTORY CONSOLIDATION Definition

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STATUTORY CONSOLIDATION is a merger where a new corporate entity is created from the two merging entities; the two merging entities then cease to exist. See also STATUTORY MERGER.

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OFF-BALANCE SHEET is not fully documented accounting transactions that can potentially incur risks of loss that are not fully transparent to investors.

PROFIT AFTER TAX (PAT) is the net profit earned by the company after deducting all expenses like interest, depreciation and tax. PAT can be fully retained by a company to be used in the business. Dividends, if declared, are paid to the share holders from this residue.

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