ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY

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BIG BANG Definition

BIG BANG are changes in UK stock exchange practices that took place in 1986. They permitted institutions such as banks and insurance companies to own stock exchange subsidiaries, abolished the segregation between brokers and jobbers and ended the system of fixed commissions.

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PRODUCTION is the creation of value or wealth by producing goods and services.

UNSECURED is obligation backed not by collateral but only by the integrity of the borrower. Opposite of secured.

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