ACCOUNTS PAYABLE (AP) are trade accounts of businesses representing obligations to pay for goods and service received.
CASH FREE BALANCE AMOUNT, in the general ledger, usually represents the net amount of Balance Forward plus Allocations plus Revenue minus Expenditures minus Encumbrances.
JUNK BOND is a bond with a speculative credit rating of BB or lower. Such bonds offer investors higher yields than bonds of financially sound companies. Two agencies, Standard & Poors and Moodys Investor Services, provide the rating systems for companies credit. See HIGH YIELD JUNK.
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