THIRD PARTY Definition

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THIRD PARTY is someone other than the principals directly involved in a transaction or agreement.

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TRIAL BALANCE is a listing of the accounts in your general ledger and their balances as of a specified date. A trial balance is usually prepared at the end of an accounting period and is used to see if additional adjustments are required to any of the balances. Since the basic accounting system relies on double-entry bookkeeping, a trial balance will have the same total debit amount as it has total credit amounts.

BRIDGE LOAN (BRIDGING LOAN) is an equity loan secured to solve short-term financing problem.

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