ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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OPEN ALLOTMENT Definition
OPEN ALLOTMENT is where there is no restriction as to an amount that may be taken from that which is being allotted.
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EXECUTOR is a legal entity, frequently an individual, known before death to a testator, who is named in the testators will to carry out the desires of the deceased after his death as designated in the will. Executors must be approved by the court of law probating the will. An executor pays all indebtedness as claimed by creditors of the estate, with the approval of the court of law, and then carries out or executes the will according to the terms set forth by the testator.
INSIDE MARKET is the highest bid and the lowest ask (offer) prices among all Market Makers competing in a NASDAQ security; the best bid and ask prices for a security