CURRENT FACE Definition

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CURRENT FACE, in securities, is the current monthly remaining principal of a certificate computed by multiplying the original face value of the certificate by the current principal balance factor.

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APB is Accounting Principles Board or an Accounting Principles Board opinion (GAAP).

ERROR is unintentional misstatements or omissions in financial statements. Errors may involve mistakes in gathering or processing accounting data, incorrect estimates from oversight or misinterpretation of facts, and mistakes in application of principles relating to amount, classification, presentation or disclosure.

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