ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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AUCTION-RATE PREFERRED STOCK Definition
AUCTION-RATE PREFERRED STOCK is preferred stock issues in which dividends are reset every 49 days through a Dutch Auction bidding process. These securities are known by many names coined by the underwriters who bring them to market. Other names are: Auction Market Preferred Stock (AMPS), Cumulative Auction Market Preferred Stock (CAMPS), Dutch Auction-Rate Transferrable Securities (DARTS), Floating-Rate Auction Preferred Stock (FRAPS), Market Auction Preferred Stock (MAPS), Rate Adjustable Preferred Stock (RAPS), Short-Term Auction-Rate Stock (STARS) and Money Market Preferred (MMP).
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REVENUE EXPENDITURE is the cost of resources consumed or used up in the process of generating revenue, generally referred to as expenses.
FINANCIAL GUARANTEE INSURANCE is insurance created to cover losses from specified financial transactions.
