ASCII Definition

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ASCII is American Standard Code for Information Exchange.

Learn new Accounting Terms

PAYDOWN is the systematic reduction in principal of a mortgage- or asset-backed security resulting in a series of principal payments, either scheduled or unscheduled.

LCM RULE is an abbreviation for lower-of-cost-or-market rule. LCM requires that an asset be reported on the financial statements at the lower of purchase cost or market value.

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