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English definition of “overstatement”

overstatement

noun [C or U]     /ˈəʊvəˌsteɪtmənt/
a statement that something is larger, more important, or more serious than it really is: An internal inquiry into accounting irregularities revealed a $70m overstatement by a subsidiary company. The mistake resulted in an overstatement of inventory. → Compare understatement
(Definition of overstatement noun from the Cambridge Business English Dictionary © Cambridge University Press)
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