FLOATING RATE NOTE Definition

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FLOATING RATE NOTE (FRN) is a short-term debt obligation where the interest rate is variable because it is linked to a market rate such as the 3-month T-bill rate or London Interbank Offer Rate (LIBOR).

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CRUZADO is a currency of Brazil.

USAGE VARIANCE is the difference between the budgeted quantity of materials and the actual quantity used.

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