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BUILDING SOCIETY, similar to a Savings and Loan in the U.S., is a UK savings institution that specializes in loans for house purchase. Their members own building societies.

Learn new Accounting Terms

PERIODICITY CONCEPT is the concept that each accounting period has an economic activity associated with it, and that the activity can be measured, accounted for, and reported upon.

CALLABLE BOND is a bond the issuer has the right to pay off at issuers discretion.

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