FULL CYCLE ACCOUNTING see ACCOUNTING CYCLE.
PROFIT BEFORE TAXES (PBT) is a profitability measure that looks at a companys profits before the company has to pay income tax. This measure deducts all expenses from revenue including interest expenses and operating expenses, but it leaves out the payment of tax.
BACKWARDATION is the commission paid by a seller for the postponement of a transaction on a stock exchange when prices for cash delivery are higher than for forward delivery.
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