BROKER Definition

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BROKER is an individual or firm that acts as an intermediary between a buyer and seller, usually charging a commission.

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COST BASIS, in securities, is the purchase price after commissions or other expenses. It is used to calculate capital gains or losses when the security is eventually sold.

PREMISE OF VALUE is an assumption regarding the most likely set of transactional circumstances that may be applicable to the subject valuation; e.g. going concern, liquidation.

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