ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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FUTURES CONTRACT Definition
FUTURES CONTRACT is an agreement to buy or sell a specific amount of a commodity or financial instrument at a specified price on a specified future date. Futures contracts are traded on a commodity exchange and used both for speculation and hedging.
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MATRIX ORGANIZATION is where a company superimposes a group or interdisciplinary team of project specialists on a functional organizational design. In a matrix organization the members have dual allegiances, i.e., to that particular assignment or project as well as their normal organizational department.
CUSTODIAN is an entity entrusted with guarding and keeping property or records.