Statutory law Statutory law is the written law, including state and federal constitutions, legislative enactments, treaties of the federal
Statutory benefits Statutory benefits that are mandated by federal or state laws, such as Social Security, unemployment insurance and workers’ compensation.
Statutory Audit Statutory Audit by law, certain companies need to have their accounts audited by suitably qualified accountants. This is called a statutory audit.
Statutory Reserve Fund The amount of liquid assets that firms must hold in order to remain solvent and attain partial protection against a substantial investment loss is known as statutory reserves.
Definition
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