ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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MANDATORY SPENDING Definition
MANDATORY SPENDING is spending that is automatically obligated due to previously-enacted laws. In the United States, this would include things such as Social Security, Medicare, and the interest on the national debt. See DISCRETIONARY SPENDING.
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SUBSTANTIVE is reality, real rather than apparent, as seen by an unbiased observer and not just the official view of management.
IPO (INITIAL PUBLIC OFFERING) is the first or primary offering of stock to the public.