BANKER'S ACCEPTANCE (BA) is a money market instrument that is issued in discounted form. A banker's acceptance is created when a bank accepts responsibility for payment of business debt by signing a letter of credit. Banker's acceptances are sold to acceptance dealers and may be resold to numerous other parties before the loan is repaid. The investor who last owns the acceptance when the debt becomes due has a right to collect from the borrower. Should the borrower default, the investor can also pursue payment from the accepting bank.
LIFO RESERVE is the difference between the ending inventory under LIFO and FIFO (or other method that might be chosen).
ADMINISTRATIVE RECEIVER is an Insolvency practitioner appointed when a company goes into receivership (work out). A company may go straight to administrative receivership, presided over by an administrative receiver, usually known simply as the receiver.
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