FEDERAL FUNDS Definition

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FEDERAL FUNDS are reserve balances that depository institu­tions lend each other, usually on an overnight basis. In addition, federal funds include certain other kinds of borrowings by depository institutions from each other and from federal agencies.

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CARTAGE/CARRIAGE INWARDS occurs when a business has to pay for purchased goods to be delivered to its premises.

AAA is American Accounting Association, Association of Accounting Administrators, or see ACCUMULATED ADJUSTMENT ACCOUNT.

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