EXEMPTED SECURITY Definition

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EXEMPTED SECURITY is a security that is exempted from SEC regulations, including margin rules. Such securities include U.S. Treasury and government agency securities and municipal securities designated by the SEC.

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CONVERTIBLE CURRENCY is any national currency that can be easily exchanged for that of another country.

ACCRUAL is the recognition of revenue when earned or expenses when incurred regardless of when cash is received or disbursed.

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