PICPA Definition

PICPA is Pennsylvania Institute of Certified Public Accountants or Philippine Institute of Certified Public Accountants.

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HIGH-YIELD DEBT is a business term referring to a corporate debt instrument (non-investment grade or junk bond), that has a higher yield (compared to investment grade debt) because of a high perceived credit risk (default risk). See also JUNK BOND.

FLAT RATE is a per unit price that remains constant regardless of the volume purchased.

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