TOTAL ASSETS Definition

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TOTAL ASSETS is the total of all assets; both current and fixed.

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BALANCING OFF THE BOOKS means totaling off the various amounts to find out how much money is left or, how overdrawn the organization is. At certain times; e.g. once a month, quarterly, for management committee meetings; it may be necessary to balance off the books".

SECURED TRANSACTION is the right to repossess goods as security for payment of a debt.

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