assets and liailitie, bank duties, ombudsman, contingent
liability
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Answer / Shiv Kumar Pawar
In the context of POs (Purchase Orders), assets refer to resources acquired by a company for future use or benefits. Liabilities are obligations a company has to pay its debts. Bank duties can include making payments, receiving funds, and maintaining accounts. An ombudsman is an official who handles complaints and aims to resolve disputes within an organization fairly and efficiently. Contingent liability refers to potential liabilities that may or may not arise under specific circumstances.
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