EFFECTIVENESS Definition

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EFFECTIVENESS is producing a desired outcome. An audit procedure is effective if the evidence supports a correct conclusion.

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TERM DEBT, as in Term Bonds, is debt that mature in one lump sum at a specified future date. Term debt is usually carried as one type of long-term debt.

MAKING A MARKET is securities dealers showing both a bid and an offer for a particular maturity and type of secu­rity. This is not to be confused with a quote, which is a general indication of prices rather than a specific price at which a transaction may be executed.

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