CONSTRUCTION IN PROGRESS Definition

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CONSTRUCTION IN PROGRESS is capital assets under construction or development that have not yet been placed into service, such as a building or parking lot. Capital assets are not subject to depreciation while in a construction in progress status.

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AUCTION-RATE PREFERRED STOCK is preferred stock issues in which dividends are reset every 49 days through a Dutch Auction bidding process. These securities are known by many names coined by the underwriters who bring them to market. Other names are: Auction Market Preferred Stock (AMPS), Cumulative Auction Market Preferred Stock (CAMPS), Dutch Auction-Rate Transferrable Securities (DARTS), Floating-Rate Auction Preferred Stock (FRAPS), Market Auction Preferred Stock (MAPS), Rate Adjustable Preferred Stock (RAPS), Short-Term Auction-Rate Stock (STARS) and Money Market Preferred (MMP).

DERIVATIVE LIABILITIES are financial instruments under contracts that have one or more underlying and one or more notional amounts. See DERIVATIVE.

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