AGENCY COSTS Definition

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AGENCY COSTS is the incremental costs of having an Agent make decisions for a principal.

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INVESTMENT BANKER is an underwriter who serves as a middleman between a corporation issuing new securities and the public. Usually, an investment banker, or several investment bankers in a syndicate, buy the securities issue outright, then sell the securities to individuals or institutions.

FLOWCHART, in accounting, is a schematic representation of a sequence of operations in an accounting system or computer program. Also called a flow diagram or flow sheet.

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