Knock-for-Knock Agreement
A knock-for-knock agreement is a contractual arrangement where each party bears its own losses, regardless of fault. In accounting, this simplifies claims and settlements, especially in industries like shipping or insurance, by reducing the need for complex liability assessments and cross-claims.
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Knockdown Cost
Knockdown cost refers to the total landed cost of goods received in an unassembled form, including purchase price, freight, insurance,…
Kickoff Balance
A kickoff balance is the initial balance used when setting up a new accounting system or beginning a new financial…
Knowledge Process Outsourcing (KPO)
KPO involves outsourcing high-end analytical or financial services such as valuation, financial modeling, and risk management. In accounting, KPO providers…
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