AMERICAN DEPOSITORY RECEIPTS Definition

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AMERICAN DEPOSITORY RECEIPTS (ADR) is ownership in the shares of a non-U.S. company that trades in U.S. financial markets. The stock of many non-US companies trade on US stock exchanges through the use of ADRs. ADRs enable U.S. investors to buy shares in foreign companies without the hazards or inconveniences of cross-border & cross-currency transactions. ADRs carry prices in US dollars, pay dividends in US dollars, and can be traded like the shares of US-based companies.

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PMSI is Purchase-Money Security Interest; it is normally a lien resulting from a purchase, e.g. an auto loan.

CONTRACT COSTING is mainly associated with civil engineering works, although sometimes also with the manufacture of a major engineering structure over a considerable time (for example, a contract to manufacture a turbine generator).

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