CURRENT ACCOUNT Definition

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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.

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STRIPS, in securities, is dividing a Treasury bond or mortgage-backed security into its principal and interest payments and selling the claims to these payments as new and separate securi­ties. The principal portion is called a principal only (PO) security, and the interest portion is called an interest only (IO) security

WAYBILL is a document prepared by a carrier for a shipment of goods that contains details of the shipment, route, and charges. 

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