BLIND TRUST Definition

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BLIND TRUST is a trust where assets are not disclosed to their owner.

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BONDING is generally used by service companies as a guarantee to their clients that they have the necessary ability and financial tracking to meet their obligations. Bonds are also used to guarantee payment of duty for U.S. Customs entry.

LIFO RESERVE is the difference between the ending inventory under LIFO and FIFO (or other method that might be chosen).

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