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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OTHER CURRENT LIABILITIES includes any other current liabilities, including bank overdrafts and accrued expenses.

OVERDRAFT is, a. a draft in excess of the credit balance within an account; or b. a facility (usually at a bank or other financial institution) enabling an account holder to borrow up to an agreed amount and often for an agreed time.

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