ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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PRESCRIBED SECURITY Definition
PRESCRIBED SECURITY generally means any bond, debenture, stock, stock certificate, Treasury bill or other like security, or any coupon, warrant or other document for the payment of money in respect of such a security, issued by a government authority.
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MAINTENANCE OF ACCOUNTS, in accounting, ensures that all transactions and accounting records are in accordance with generally accepted accounting principles and applicable laws, and shall be in sufficient detail to permit an annual audit.
REFUNDING is redeeming a bond with proceeds received from issuing lower-cost debt obligations with ranking equal to or superior to the debt to be redeemed.