ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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POOL is: 1. a group of people organized for a specific purpose or any communal combination of funds; 2. in capital budgeting, the concept that investment projects are financed out of a pool of bonds, preferred stock, and common stock, and a weighted-average cost; 3. in insurance, a group of insurers who share premiums; and 4. in investments, the combination of funds for the benefit of a common project, or a group of investors who use their combined influence to manipulate prices.
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PERSONNEL is the department that maintains records of each individual's employment.
STATUTORY ACCOUNT is an involuntary account, which is created by law rather than by business need. An example of a statutory account would be taxes.