FRCN Definition

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FRCN see FLOATING RATE CONVERTIBLE NOTE.

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HOLDBACK is a portion of a construction loan that is not funded until the subject project is nearing completion, or the borrower has satisfied certain contractual performance requirements, such as leasing a majority of the space in the building. The amount held back is often equal to the construction firms projected profit when the building is completed.

INCORRECT REJECTION, in accounting, is the risk the sample supports the conclusion that the recorded balance is materially misstated when it is not materially misstated.

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