Answer Posted / sheshank dubey

A sum of money paid when there was no obligation or liability to pay it. For example, a lump sum payment over and above the pension benefits of a retiring employee. In insurance claims, it may take the form of payment for which the insurer did not appear to be liable. Ex gratia is Latin for "out of goodwilll." Also called ex gratia settlement.

Tell us what is the abbreviation for the accounting terms debit and credit?

1088

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In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.

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