COST REDUCTION Definition

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COST REDUCTION is actions taken in the present designed to decrease costs in the present. See COST AVOIDANCE.

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RECOURSE, in finance, is the right to demand payment from the maker or endorser of a negotiable instrument (as a check). See RECOURSE NOTE.

BOOK ENTRY TRANSACTION, in securities, is a transaction that does not entail physical transfer of paper securities. An entry is made on the books of a safekeeping depository showing the beneficial owner of the securities. This has become a standard transaction method for all U.S. Treasury, many U.S. Government agency securities and many tax­able and tax-exempt instruments.

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