Condition

Condition
In various fields such as law, real estate, and general business, the term 'condition' has multiple meanings. It can refer to a prerequisite or requirement, a potential future event that influences legal obligations or real estate interests, and the physical quality or wear of something.
Transient
A transient condition refers to a temporary, fleeting, or passing phenomenon. It denotes a state or event of brief duration.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.