BUSINESS PUBLICATIONS AUDIT Definition

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BUSINESS PUBLICATIONS AUDIT (BPA) is similar to the Audit Bureau of Circulation; the BPA is a third-party organization that verifies the circulation of print media through periodic audits.

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STRAPS is Stated Term Rate Auction Preferred Stock; issues having a fixed dividend rate, usually for three to five years. After this period, the security becomes an auction-rate preferred and the holder can sell the stock at par on the date of the first auction. STRAPs trade like and are com­pared to a short-term sinking fund preferred stock.

SILENT PARTNERSHIP is the relation of partnership sustained by a person who furnishes capital only, i.e., the partner is not involved in the day-to-day operations or decisions of the entity.

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