DIRECT EXPENSE Definition

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DIRECT EXPENSE is that portion of expense that is directly expended in providing a product or service for sale and is included in the calculation of COST OF GOODS SOLD, e.g. labor and inventory.

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MONETARY POLICY is U.S. Federal Reserve actions to influence the availability and cost of money and credit as a means of helping to promote high employment, economic growth, price stability and a sustainable pattern of inter­national transactions. Tools of monetary policy include open market operations, adjustments in reserve require­ments and changes in the discount rate.

STRIPPED BOND is a bond that can be subdivided into a series of zero-coupon bonds.

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