ADJUSTABLE RATE PREFERRED Definition

ADJUSTABLE RATE PREFERRED (ARP) is preferred stock issues in which dividends are reset quarterly either at a fixed spread or at a percentage of the highest of three benchmarks on the yield curve. Also known as floating­-rate preferreds.

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TEST COUNT, in inventory audits, is where a test count is inventory counted by the auditors to check the client's count.

ON-THE-JOB TRAINING (OJT) is training that takes place at the work site, usually supervised by a manager or an experienced coworker.

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