ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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JOINT STOCK COMPANY Definition
JOINT STOCK COMPANY is a company that has some features of a corporation and some features of a partnership. This type of company has access to the liquidity and financial reserves of stock markets as a corporation, however, as in a partnership; the stockholders are liable for company debts and have additional restrictions of a partnership.
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EATING STOCK is when an underwriter can't find buyers for a stock and therefore has to buy them for his own account.
BCL is an acronym for, among others, Bank Comfort Letter or Bachelor of Canon/Civil Law.