UNFUNDED COMMITMENT Definition

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UNFUNDED COMMITMENT is, as of any date of determination, the sum of legally binding calls upon current or future assets to where the assets or sums have not been identified or set aside to satisfy the commitment.

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BREAK-EVEN POINT is the volume point at which revenues and costs are equal; a combination of sales and costs that will yield a no profit/no loss operation.

ORDER OF PERMANENCE is where fixed assets are entered in the balance sheet in descending order of permanence (i.e. land first, then buildings, then equipment ...).

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