STRATEGIC ASSET Definition

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STRATEGIC ASSET, in relation to the assets held by a legal entity, means an asset or group of assets that the entity needs to retain if the entity is to maintain the entitys capacity to achieve or promote any outcome that the entity determines to be important to the current or future well-being of the entity.

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SIGNIFICANT RISK is an identified and assessed risk of material misstatement that, in the auditor's judgment, requires special audit consideration.

WON is a currency of North Korea and South Korea.

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