CORPORATE BOND Definition

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CORPORATE BOND is evidence of debt owed by a corpora­tion, issued for the purpose of borrowing money, and promising to return the face value of borrowed money at maturity. Corporate bonds usually pay interest at regular intervals twice each year.

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ACCRUED LIABILITY are liabilities which are incurred, but for which payment is not yet made, during a given accounting period. Some examples in a manufacturing environment would be: wages, taxes, suppliers/vendors, etc.

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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