CUMULATIVE PREFERRED STOCK Definition

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CUMULATIVE PREFERRED STOCK is preferred stock which gives holder a right to dividends if they have not been paid in a given year.

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CURRENT ACCOUNT in a national economy it is a category in the balance of payments account that includes all transactions that either contribute to national income or involve the spending of national income.

BAD DEBT is an open account balance or loan receivable that has proven to be uncollectible and is written off.

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