VEST / VESTING / VESTED Definition

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VEST / VESTING / VESTED, in law, is to give a secured right of present or future award. An entity has a vested right to an asset that cannot be taken away by a third party, even if physical possession of the asset has not yet been realized.

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SUI is either State Unemployment Insurance (tax) or State Unemployment Income.

CUT-OFF is designating a point of termination. An auditor uses tests of cutoff to obtain evidence that transactions for each year are included in the financial statements of the appropriate year.

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