CASH CLEARING ACCOUNT Definition

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CASH CLEARING ACCOUNT represents a clearing account for voided and reissued imprest cash checks. It is also used for miscellaneous corrections of imprest cash checks.

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DEBENTURE is a corporate IOU that is not backed by the companys assets (unsecured) and is therefore somewhat riskier than a bond.

EXTENSION SWAP is selling one security and purchas­ing another security with a longer maturity date to improve yield.

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