SUBVENTION Definition

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SUBVENTION is the provision of assistance or financial support such as an endowment or a subsidy from a government or foundation.

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AUDIT RISK is a combination of the risk that material errors will occur in the accounting process and the risk the errors will not be discovered by audit tests. Audit risk includes uncertainties due to sampling (sampling risk) and to other factors (non-sampling risk).

DEVALUATION, in economics, is the lowering in value of one currency in relation to other currencies.

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