FLOATING-RATE NOTE Definition

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FLOATING-RATE NOTE is an instrument with a fluctuating interest rate as prescribed at the time of issue.

 

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SFAS is Statement of Financial Accounting Standards or Statewide Fixed Assets System.

MARGINAL BENEFIT takes into account the fact that the more an entity has or devotes to something, the less benefit that is likely to be derived from the additional units applied, e.g. additional labor hours expended to complete a task can be of questionable benefit if parts, tools, or machines cannot optimally absorb the additional labor applied, i.e. the additional hours devoted would be of marginal benefit.

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