Common use of Accounting and Reports Clause in Contracts

Accounting and Reports. (a) The Company will maintain its books and records on the accrual method of accounting based upon generally accepted accounting principles except as otherwise described in this Agreement; provided that the Board of Directors may adopt any accounting method determined by the Board of Directors to be in the best interests of the Company, in its sole discretion. The Company's accounts shall be maintained in U.S. currency. The Company shall cause annual financial statements prepared in accordance with this Section 7.1(a), subject always to any requirements of the 1940 Act, to be accompanied by a report of independent public accountants based upon an audit performed in accordance with generally accepted auditing standards.

Accounting and Reports. (a) The Company will maintain its books and records on the accrual method of accounting based upon generally accepted accounting principles except as otherwise described in this Agreement; provided that the Board of Directors may adopt any accounting method determined by the Board of Directors to be in the best interests of the Company, in its sole discretion. The Company's ’s accounts shall be maintained in U.S. currency. The Company shall cause annual financial statements prepared in accordance with this Section 7.1(a), subject always to any requirements of the 1934 Act and 1940 Act, to be accompanied by a report of independent public accountants based upon an audit performed in accordance with generally accepted auditing standards.