TEST COUNT Definition

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TEST COUNT, in inventory audits, is where a test count is inventory counted by the auditors to check the client's count.

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SMALL-CAP is a stock with a capitalization, meaning a total equity value, of less than $500 million.

DISCOUNT FOR THE LACK OF CONTROL is an amount or percentage deducted from the pro rata share of value of one hundred percent (100%) of an equity interest in a business to reflect the absence of some or all of the powers of control.

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