ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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EXEMPT is being freed from or not subject to an obligation, liability, tax, etc.; excused. Examples: exempt gifts or tax-exempt bonus.
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UST BENCHMARK RATE is the yield to maturity (calculated in accordance with standard market practice) corresponding to the bid-side price for the relevant UST Bond.
TOP-DOWN APPROACH TO INVESTING is an investment approach that first seeks to define major economic and industry trends, then proceeds to identify the individual companies most likely to benefit from those trends. See BOTTOM-UP APPROACH TO INVESTING.