UNSECURED Definition

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UNSECURED is obligation backed not by collateral but only by the integrity of the borrower. Opposite of secured.

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ENTITY, in business, is a separate or self-contained existence that provides goods or services.

WORKING TRIAL BALANCE is similar to the trial balance. Additionally, it contains columns for adjusting entries and the adjusted balance. This report is typically used at year-end to assist in making adjusting entries.

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