SUNDRY ACCOUNT Definition

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SUNDRY ACCOUNT is an account where miscellaneous items are recorded, e.g. infrequent transactions involving customers or suppliers that are not tracked in the normal course of business.

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EV (economic value) is the value of an asset deriving from its ability to generate income.

FINANCIAL INSTITUTION CONFIRMATION REQUEST is a confirmation sent to the client's bank or other financial institution asking the bank to confirm directly to the auditor information about balances at a particular date.

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