AUTHORIZED CAPITAL STOCK Definition

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AUTHORIZED CAPITAL STOCK is the maximum number of shares of common stock that can be issued under a companys Articles of Incorporation. Issued shares are normally less than the number of authorized shares.

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INCOME SMOOTHING refers to measures taken to reduce the probability of income shocks before they occur, and includes strategies like diversifying income sources; making low-risk production and employment choices; building up physical, human, and social assets; and ensuring good financial management.

ZERO COUPON CONVERTIBLE DEBENTURE/SECURITY is a zero coupon bond that is convertible into the common stock of the issuing company after the common stock reaches a certain price.

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