Completeness - Economics, Finance, and Industry

Economics, Finance, and Industry

  • Complete markets versus incomplete markets
  • In auditing, completeness is one of the financial statement assertions that have to be ensured. For example, auditing classes of transactions. Rental expense which includes 12-month or 52-week payments should be all booked according to the terms agreed in the tenancy agreement.
  • Oil or gas well completion, the process of making a well ready for production.

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Famous quotes containing the word industry:

    The reason American cars don’t sell anymore is that they have forgotten how to design the American Dream. What does it matter if you buy a car today or six months from now, because cars are not beautiful. That’s why the American auto industry is in trouble: no design, no desire.
    Karl Lagerfeld (b. 1938)